Rupee rises 24 paise to 95.72 against US dollar in early trade

Mumbai: The rupee gained 24 paise to 95.72 against U.S. dollar in early trade on Monday, supported by a slight moderation in crude oil prices and a positive trend in domestic equities.

At the interbank foreign exchange market, the rupee opened at 95.86 against the U.S. dollar, then gained some ground to touch 95.72 against the American currency, registering a gain of 24 paise from its previous close.

Forex traders said initial gains in domestic equities and improved foreign fund sentiment boosted investor sentiment, but sustained importer demand for greenbacks from oil companies and broader strength in the U.S. dollar Index weighed on the local unit.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 100.31, higher by 0.09%.