Nifty Future Tips: Mumbai: The INR strengthened by 20 paise to 66.55 against the dollar in early trade today on increased selling of the United State currency by exporters and banks amidst sustained foreign fund inflows.

Besides, weakness in the dollar against other currencies following the Federal decision to scale back its forecasts on hiking borrowing costs, supported the rupee.

Moreover, a higher opening in the Indian equity market influenced the domestic unit, according to forex dealers.

The INR had closed at an over 2-month high of 66.75 by gaining 47 paise in yesterday’s trade on persistent selling of the USD by banks and exporters after the US Fed indicated a slower pace on rate hike.

Meanwhile, the benchmark BSE sensitive Index climbed 101.61 points, or 0.41 percent, at 24,778.98 in early trade today.

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