Indian rupee surges 21 paise to 74.63 against US dollar in early trade

Indian rupee surges 21 paise to 74.63 against US dollar in early trade

The local currency opened on a strong note at 74.64 to a dollar at the interbank foreign exchange market and inched higher to 74.63, registering a gain of 21 paise over its previous close.







PTI









February 23, 2022 / 11:11 AM IST





Representative image



The rupee recovered 21 paise to 74.63 in early trade on Wednesday tracking positive domestic equities as investors continued to keep a watch on the latest developments around Ukraine.

The local currency opened on a strong note at 74.64 to a dollar at the interbank foreign exchange market and inched higher to 74.63, registering a gain of 21 paise over its previous close.

On Tuesday, the rupee depreciated by 29 paise to close at 74.84 against the US currency.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.04 per cent higher at 96.06.

Follow our LIVE blog on Market Updates

The Indian rupee opened stronger against the US dollar on Wednesday as the greenback dipped and crude oil prices also witnessed some correction from Tuesday’s highs and lifted sentiments, said Sriram Iyer, Senior Research Analyst at Reliance Securities.

However, most of the