The rupee strengthened by 20 paise to 64.86 against the dollar in early trade on Friday on fresh selling of the US currency by exporters and banks amid firm domestic equity markets.
The Fed minutes revealed the extent to which policymakers are concerned that a global economic slowdown might threaten the US economic outlook. Though they said overseas turmoil had not "materially altered" economic prospects, they opted to hold interest rates steady last month.
Further, a higher opening in the domestic equity market influenced the rupee uptrend, they added.Yesterday, the rupee had lost 11 paise to end at 65.06 against the US dollar at the interbank forex market.
Meanwhile, the benchmark BSE Sensex spurted by 325.38 points, or 1.21%, at 27,171.19 in early trade on Friday.
Source - DNA
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