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The rupee gained 21 paise to 82.62 against the U.S. dollar in early trade on Thursday supported by broad dollar weakness and a firm trend in domestic equities.
Forex traders said upbeat domestic trade deficit data and foreign fund inflows supported investor sentiments.
At the interbank foreign exchange, the domestic unit opened at 82.72 against the dollar, then gained ground and touched 82.62, registering a rise of 21 paise over its previous close.
On Wednesday, the rupee settled at 82.83 against the U.S. dollar.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.25% to 103.66.
Brent crude futures, the global oil benchmark, rose 0.50% to $85.81 per barrel.
In the domestic equity market, the 30-share BSE Sensex was trading 391.48 points or 0.64% higher at 61,666.57. The broader NSE Nifty advanced 113.90 points or 0.63% to 18,129.75.
India’s trade deficit in January fell to a 12-month low of $17.75 billion as imports declined 3.63% year-on-year to $50.66 billion. Exports in January dipped 6.58 per cent to $32.91 billion, as against $35.23 billion a year ago.
Foreign Institutional Investors (FIIs) were net buyers in the capital market on Wednesday as they purchased shares worth ₹432.15 crore, according to exchange data.
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