Mumbai: The rupee appreciated by 22 paise to 70.47 against the US dollar in early trade on Friday, tracking gains in domestic equities amid reports of a meeting between foreign investors and finance ministry officials regarding higher tax surcharge during the day.
On Thursday, the rupee snapped its five-day losing streak to close higher by 20 paise at 70.69 against the US dollar on Thursday tracking sharp gains in domestic equities after reports of rollback of a tax surcharge on foreign portfolio investors.
The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.06 per cent to 97.55.
Domestic bourses opened on a bullish note on Friday with benchmark indices Sensex trading 247.29 points higher at 37,574.65 and Nifty up 77 points at 11,109.45. The 10-year government bond yield was at 6.41 per cent in morning trade. (PTI)
