Rupee up 29 paise to 64.74 against dollar in early trade

Mumbai: The rupee rose by 29 paise to 64.74 against the dollar in early trade today on increased selling of the US currency by exporters.

The dollar was trading lower against major world currencies after weak US retail sales data fuelled hopes that the US Federal Reserve will delay an interest rate hike.

Stock markets were also in the positive zone in line with Asian markets which also supported the rupee, dealers said.

The US Commerce Department yesterday said retail sales rose half as much as expected in September.

The rupee had gained 15 paise to close at 65.03 per dollar yesterday.

Meanwhile, the benchmark BSE Sensex recovered by 168.07 points, or 0.63 percent, at 26,947.73 in early trade today.