However, soaring crude prices limited the gain of the Indian currency.
The rupee appreciated 17 paise to 75.73 against the US dollar during the opening session on Tuesday, December 21, 201, reflecting large purchases of domestic stocks and the weakness of the US currency in the US dollar market. overseas.
However, soaring crude prices limited the rupee’s gain, traders said.
In the interbank forex market, the rupee opened strongly at 75.74 and edged up to quote 75.73 against the US dollar in early trades, registering a 17 paise rise since the last close.
In the previous session, the rupee stood at 75.90 against the greenback.
On the domestic stock market front, the 30-stock Sensex was trading 720.07 points or 1.29% higher at 56,542.08, while the wider NSE Nifty rose 215.10 points or 1.29 % at 16,829.30.
The dollar index, which measures the strength of the greenback against a basket of six currencies, fell 0.06% to 96.49.
Futures on Brent crude, the world’s benchmark for oil, rose 0.80% to $ 72.09 per barrel.
Foreign institutional investors (FIIs) remained net sellers in capital markets, withdrawing 3,565.36 crore on Monday, according to provisional data.