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The rupee was trading strong at 66.77 on increased selling of the American currency by exporters and banks.
Besides, the dollar’s weakness against some currencies overseas supported the rupee but a weak domestic equity market capped the gain, forex dealers said.
The domestic unit opened strong by 11 paise at 66.71 at the Interbank Foreign Exchange market today.
It hovered in a range of 66.77 and 66.64 before quoting at 66.77, up 5 paise at 4.25 pm local time.
On Thursday, the rupee had gained 14 paise to close at 66.82 a dollar on fresh selling of the American currency by banks and exporters on the back of weakness of greenback in the overseas market. Forex market was closed on Friday on account of Shivratri.
Meanwhile, the benchmark BSE index closed 80.09 points or 0.28 per cent lower at 28,812.88.
The dollar recouped some ground after dipping to a two-week low against the yen in Asian trading on Monday, but it lacked momentum as investors awaited this week's speech by US President Donald Trump for clues on tax reform.
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