Dollar's strength against some currencies overseas capped the gains
Extending its gains for the fifth straight day, the rupee inched up by another 6 paise to trade at a fresh two-week high of 66.44 against the dollar in early trade today on sustained selling of the American currency by exporters.
Besides, a strong opening in the domestic equity market also boosted the rupee's value against the American currency, but the dollar's strength against some currencies overseas capped the gains, forex dealers said.
The rupee had gained 11 paise to close at a fresh two-week high of 66.50 per dollar yesterday on persistent selling of the greenback by banks and exporters despite a higher dollar overseas.
Photograph: Amit Dave/Reuters