Rupee appreciates 17 paise to 95.56 against US Dollar in early trade
Mumbai: The rupee appreciated 17 paise to 95.56 against the American currency in early trade on Thursday, tracking a weak US dollar.
Forex traders said the dollar index fell to its lowest level since late May after the US Treasury announced that it would double its buyback operations for longer-dated Treasury bonds.
The move pushed US long-term yields lower, reducing the dollar’s yield advantage and supporting emerging market currencies including the rupee.
The domestic currency was also supported by positive equity market sentiment and fresh foreign fund inflows.
