In the opening trade of the day today the rupee strengthened by 5 paise to trade at a fresh two-year high of 63.65 against the dollar.

The dollar's muted show against other currencies overseas added to the rupee value, dealers said.

Meanwhile, the benchmark BSE Sensex dropped by 78.64 points, or 0.24 per cent, to 32,398.10 in the early session.

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