Rupee rebounds sharply tracking firm stock markets, up 24 paise against dollar at 67.78

Taking a breather from the record drop in recent sessions, the rupee in early morning trade firmed up by 24 paise to trade at 67.78 against the US dollar at the Interbank Foreign Exchange on fresh selling of the American currency by exporters and banks.  Forex dealers said a strong opening in domestic equity markets too supported the rupee, but dollar’s strength against other currencies overseas limited the gains. Thursday, the rupee dropped 7 paise to close at 29-month low of 68.02 on sustained demand for the American currency from banks and importers amid fall in equities. Meanwhile, taking cues from the overnight gains in the US markets, key domestic benchmark indices notched up significant gains, with Sensex surging 338 points to a high of 24,301.91. With inputs from Agencies