Rupee surges 9 paise to 73.33 against US dollar

Rupee surges 9 paise to 73.33 against US dollar in early trade

Brent crude futures, the global oil benchmark, rose 0.43 per cent to USD 51.31 per barrel

Representative image. Credit: iStock photo.

The rupee appreciated by 9 paise to 73.33 against the US dollar in opening trade on Wednesday supported by sustained foreign fund inflows and weakness in the American currency in the overseas market.

At the interbank forex market, the domestic unit opened at 73.35 against the US dollar, then inched higher to 73.33 against the greenback, registering a rise of 9 paise over its previous close.

On Tuesday, rupee had settled at 73.42 against the US dollar.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.28 per cent to 89.74.

On the domestic equity market front, the 30-share BSE benchmark Sensex was trading 55.37 points lower at 47,557.71, and the broader NSE Nifty fell 16 points to 13,916.60.

Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 2,349.53 crore on a net basis on Tuesday, according to provisional exchange data.

Brent crude futures, the global oil benchmark, rose 0.43 per cent to USD 51.31 per barrel.