Rupee strengthened by 17 paise to 66.88 against the dollar at day’s high at Interbank Foreign Exchange, extending its upward march for a fourth straight day on sustained selling of the US currency by exporters and banks amid higher opening in the domestic equity market.
Forex dealers said besides selling of the American unit by exporters and banks, weakness in the dollar against some other currencies overseas, supported the rupee.
Further, a higher opening in the domestic equity market influenced the rupee uptrend, they added.
On Friday, the rupee had gained 2 paise to end at 67.05 per dollar on selling of the American currency by banks and exporters in view of sustained foreign capital inflows into equities.
Meanwhile, the Sensex surged by 232.32 points or 0.94 per cent to 24,950.31 in early trade.