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 yesterday's trade and a better dollar in overseas trades.
Meanwhile, the benchmark BSE Sensex breached the historic 30,000-mark for the first time by soaring 431.01 points, or 1.45 per cent, to trade at an all-time high of 30,024.74 in opening trade today.
