Mumbai: The rupee advanced by 24 paise to 66.31 against the dollar at the Interbank Foreign Exchange in early trade on Wednesday on sustained selling of the US currency by banks and exporters.
Dealers said apart from increased selling of the US currency by exporters and banks, weakening of dollar overseas also supported the domestic currency.
Gains in stock markets also helped rupee strengthen against the dollar, they added.
The rupee had recovered by 27 paise to close at 66.55 against the US dollar in yesterday's trade on fresh selling of the American currency by banks and exporters amid a weak greenback in overseas markets.
Meanwhile, the benchmark BSE Sensex climbed 427.28 points or 1.69 per cent to trade at 25,745.15 in deals.
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