Rupee rises 12 paise to 66.67 against US dollar

MUMBAI: The rupee strengthened by 12 paise to 66.67 against the US dollar in early trade today on increased selling of American currency by exporters and banks amid a higher opening in the domestic stock market.

According to dealers, infrastructure sector recording a growth rate of 5 per cent in September, the highest in three months, made the rupee stronger.

Besides, a positive opening of the domestic equity market also supported the the local currency, they said.

The rupee had gained 8 paise to close at 66.79 against the US dollar at the Interbank Foreign Exchange market on Friday.

Forex market remained closed yesterday on account of " Diwali Balipratipada."

Meanwhile, the benchmark BSE Sensex recovered 41.11 points or 0.14 per cent at 27,971.32 in early trade today.