Dynamite News Rupee gains 8 paise to 71.49 vs USD in early trade
The rupee Wednesday appreciated by 8 paise to 71.49 in early trade on the forex market amid positive opening in domestic equities and fresh foreign fund inflows.
Mumbai: The rupee Wednesday appreciated by 8 paise to 71.49 in early trade on the forex market amid positive opening in domestic equities and fresh foreign fund inflows.
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Forex traders said investors were cautious ahead RBI's Monetary Policy Committee outcome scheduled for February 7.
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In a very volatile trade, the domestic currency also touched a low of 71.60, showing a loss of 3 paise over its last close.
On Tuesday, the rupee had settled 23 paise higher at 71.57 against the US dollar.
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Foreign funds purchased shares worth Rs 420.65 crore on a net basis, and domestic institutional investors bought shares worth Rs 194.31 crore Tuesday, provisional data showed.
Meanwhile, domestic equity market opened on a higher note. The 30-share BSE benchmark Sensex, was trading at 36,833.84, up 217.03 points in early trade. The wide-based Nifty was also trading up by 65 points at 10,999.35. (PTI)