Mumbai: The rupee appreciated 67 paise to 82.14 against the US dollar in early trade on Thursday as dollar retreated from its elevated levels.
At the interbank foreign exchange, the domestic unit opened at 82.15 against the dollar, then gained ground to quote at 82.14, registering a rise of 67 paise over its previous close.
Rupee rises 67 paise to 82.14 against US dollar in early trade
— Press Trust of India (@PTI_News) October 27, 2022
In the previous session on Tuesday, the rupee appreciated by 7 paise to close at 82.81 against the dollar.
The forex market was closed on Wednesday on account of Diwali Balipratipada.
The rupee opened stronger after the dollar index fell to below 110 levels, said Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors.
"The probable reason for this fall is slower rate hikes from the US in November-22 despite inflation being higher," Bhansali said.
The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.06 per cent to 109.76. (with Agency inputs)
