Mumbai: The Indian rupee appreciated by 20 paise to 70.87 against the US dollar in early trade on Thursday, as easing crude prices and optimism regarding US-China trade talks strengthened investor sentiments.
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On Wednesday, rupee had settled at 71.07 against the US dollar. The domestic unit however could not hold on to the gains and was trading at 71.03 against the dollar at 1008 hrs.
Market participants, however, said sustained foreign fund outflows and cautious opening in domestic equities weighed on the local unit.
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Domestic bourses opened on a cautious note on Thursday with benchmark indices Sensex trading 83.99 points lower at 38,093.96 and Nifty down 41.10 points at 11,272.20.(PTI)
