Rupee rises 14 paise to 72.61 against U.S. dollar in early trade


The dollar index fell 0.16% to 90.33.

The rupee strengthened by 14 paise to 72.61 against the U.S. dollar in opening trade on February 15 on the back of positive macroeconomic data and upbeat local equities.

At the interbank forex market, the local unit opened at 72.61 against the U.S. dollar, registering a rise of 14 paise over its previous close.

On February 12, the rupee had settled at 72.75 against the American currency.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.16% to 90.33.

The rupee started on a stronger note against the greenback buoyed by upbeat risk appetite in the markets, Reliance Securities said in a research note.

On the domestic macroeconomic front, indicating some signs of recovery, industrial production recorded a positive growth of 1% in December while retail inflation cooled to a 16-month low of 4.06% in January.

Further, foreign portfolio investment (FPI) flows into the domestic markets and subdued dollar could also continue to support sentiments, the note said adding that Asian currencies are also trading strong this morning and could lift sentiments in the domestic markets.

On the domestic equity market front, the 30-share BSE benchmark Sensex was trading 488.89 points higher at 52,033.19, and the broader NSE Nifty advanced 128.85 points to 15,292.15.

Foreign institutional investors were net sellers in the capital market as they offloaded shares worth ₹37.33 crore on February 12, according to exchange data.

Brent crude futures, the global oil benchmark, advanced 1.73% to $63.51 per barrel.

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