MUMBAI: The rupee strengthened by 27 paise to trade at 61.65 against the dollar in early trade on Wednesday at the Interbank Foreign Exchange after the RBI cut interest rates by 0.25 per cent to 7.5 per cent.
Forex dealers said besides a higher opening in domestic equity market, the dollar’s weakness against other Asian currencies supported the rupee.
The rupee had ended five paise lower at 61.92 against the dollar following sustained demand for the American currency from banks and importers in Tuesday’s trade and a better dollar in overseas trades.
