Rupee recovers 16 paise against dollar in early trade

The rupee recovered 16 paise to 66.69 against the US dollar in early trade on Friday at the Interbank Foreign Exchange market on fresh selling of the American currency by exporters.

Besides, increased foreign fund inflows also supported the rupee but a lower opening of the domestic equity market and the dollar's strength against some currencies overseas capped the gains, forex dealers said.

On Thursday, the rupee fell sharply by 39 paise — its biggest single-day fall in three months — against the US dollar to close at 66.85 after the Army announced that it had carried out "surgical strikes" on terror launch pads in Pakistan across LoC.

The benchmark BSE Sensex gained 37 points, trading at  27,867.81 in early trade on Friday.