Rupee strengthens, touches 20.06 against dirham

Dubai - Forex dealers said a higher opening in the equity market also supported the rupee's sentiment.

Continuing its recovery, the rupee Friday strengthened 38 paise to 73.74 against the US dollar in early trade in the forex market after global crude prices eased.

Besides, dollar-selling by exporters and banks, the greenback's weakness against some currencies overseas, helped the recovery in the domestic currency.
Against the UAE dirham, the rupee was trading at 20.06 at 8:45am (UAE time), according to XE.com.

Brent crude fell 3 per cent to trade at 80.37 a barrel in the global market.

Forex dealers said a higher opening in the equity market also supported the rupee's sentiment.

The local unit, after hitting a record low of 74.50 Thursday, recovered 9 paise to end at 74.12 against the dollar.

Meanwhile, the BSE benchmark Sensex rebounded 377.12 points, or 1.11 per cent, to 34,378.27 in opening trade.

• Gold and Forex