 "After three sessions of losses: Rupee strengthens to 63.21 against dollar")
After three sessions of weakness,the rupee strengthened by 40 paise to 63.21 against the dollarin early trade on Thursday at the Interbank Foreign Exchange onincreased selling of the US currency by exporters and banksamidst higher opening in the domestic equity market.
Forex dealers said besides selling of the Americancurrency by exporters, gains in other currencies against thedollar overseas after the US Federal Reserve indicatedinterest rates would be hiked by mid-2015 and a rebound in thedomestic stock market, supported the rupee.
Yesterday, the rupee had lost 8 paise to close at 63.61against the dollar due to persistent capital outflows.
Meanwhile, the benchmark BSE Sensex regained the27,000-mark by surging 395.67 points, or 1.48 per cent, to27,105.80 in opening trade today.
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