The Indian rupee on Thursday gained 13 paise to 95.63 against the US dollar in early trade amid positive momentum in domestic equity markets and foreign investment inflows. Despite making gains in early trade, the momentum was capped by a strong US dollar index after the US Federal Reserve kept interest rates unchanged, forex traders said.
At 10 am at the interbank foreign exchange, the rupee opened at 95.59 and lost some ground to trade at 95.63 against the greenback.
The dollar index, which gauges the basket of six currencies, saw the rupee open 13 paise stronger from its previous close.
Earlier on Wednesday, the rupee had gained 6 paise to settle at 95.76 against the US dollar. The currency had settled 17 paise higher at 95.82 against the US dollar on Tuesday. Meanwhile, the dollar strengthened further on Thursday and was trading at 101.79, up 0.06 per cent from its previous close.
Besides, crude oil futures, the global oil benchmark, were trading 1.26 per cent lower at $89.60 per barrel.
According to market analysts, crude prices regained strength, reaching 90 dollars a barrel amid the resumption of hostilities between Iran and the United States.
This came after a brief calm for three consecutive days, shattering hopes of ending the five-month conflict in West Asia.
The US military said on Thursday that it struck “dozens” of targets inside Iran belonging to its main fighting arm, the Revolutionary Guard Corps.
On the domestic equity market front, the Sensex rose 44.77 points, or 0.06 per cent, to 77,699.37, while the Nifty was up 21.65 points, or 0.09 per cent, to 24,270.20.
Follow us
