Rupee gains 35 paise to 95.64 against US dollar in early trade

Mumbai: The Indian rupee extended its upward momentum in early trade on Tuesday, rising 35 paise to 95.64 against the US dollar.

Forex traders attributed the gain to lower crude oil prices amid easing geopolitical tensions. A weak US dollar index and positive sentiment in equity markets also supported the rupee, they said.

The currency had opened stronger and held onto gains in morning trade, tracking softer oil prices which eased pressure on India’s import bill.

Analysts said the rupee was also benefiting from improved risk appetite after global cues turned supportive.

The dollar index and crude prices will remain key factors for the rupee’s direction through the day.