Mumbai: The rupee appreciated by 27 paise to 71.85 against the US dollar in early trade on Thursday as gains in domestic equity market enthused investors.
Rupee had settled at 72.12 against the US dollar on Wednesday.The domestic unit however could not hold on to the gains and was trading at 71.93 against the dollar at 0955 hrs.
Also Read: Rupee gains 12 paise against dollar in early trade
Forex traders said higher opening in domestic equities supported the rupee.
Domestic bourses opened on a positive note on Thursday with benchmark indices Sensex trading 119.07 points higher at 36,843.81 and Nifty up 40.95 points at 10,885.60.Brent crude futures, the global oil benchmark, rose 0.07 per cent to trade at USD 60.74 per barrel.
Also Read: Sensex plunges over 400 pts; financial, auto stocks sink
The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.03 per cent to 98.48.(PTI)
