Mumbai: The Indian rupee appreciated by 4 paise to 70.96 against the US dollar in early trade on Tuesday tracking gains in domestic equity market and foreign fund inflows.
At the interbank foreign exchange the rupee opened at 70.96, registering a rise of 4 paise over its previous close. On Monday, rupee had settled for the day at 71.00 against the US dollar.
Also Read: Rupee rises 33 paise to 70.50 against USD in early trade
The domestic unit, however, could not hold on to the gains and was trading at 70.98 against the dollar at 0947 hrs. Besides, higher opening in domestic equities and foreign fund flows supported the local unit.
Domestic bourses opened on a positive note on Tuesday with benchmark indices Sensex trading 245.65 points higher at 41,184.37 and Nifty up 64.35 points at 12,118.30.
Also Read: Equity indices on upswing amid trade deal optimism
Brent crude futures, the global oil benchmark, rose 0.02 per cent to trade at USD 65.35 per barrel.(PTI)
