Rupee rises 7 paise to 70.34 vs USD, Sensex gains over 65 points in early trade

The rupee appreciated by 7 paise to 70.34 against the US dollar in opening trade Friday, driven by gains in domestic equities and weakening of the greenback in overseas markets.

The rupee opened strong at 70.38 at the interbank forex market against previous close of 70.41 per dollar then gained further ground and touched a high of 70.34 amid positive opening in domestic equities, displaying gains of 7 paise against the greenback.

On Wednesday, the rupee had risen by 5 paise to close at 70.41 against the US dollar.

Forex dealers said, selling of the American currency by exporters and easing crude prices supported the rupee in early trade.

Meanwhile, the benchmark BSE Sensex rose over 65 points in early trade Friday following value-based buying in auto, oil & gas, and metal sectors amid positive trend at other Asian markets and rising rupee.

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