Rupee rises 22 paise to 70.47 against USD in early trade

DN Bureau

The rupee appreciated by 22 paise to 70.47 against the US dollar in early trade on Friday.

File Photo
File Photo

Mumbai: The rupee appreciated by 22 paise to 70.47 against the US dollar in early trade on Friday, tracking gains in domestic equities amid reports of a meeting between foreign investors and finance ministry officials regarding higher tax surcharge during the day.

On Thursday, the rupee snapped its five-day losing streak to close higher by 20 paise at 70.69 against the US dollar on Thursday tracking sharp gains in domestic equities after reports of rollback of a tax surcharge on foreign portfolio investors.

The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.06 per cent to 97.55.

Domestic bourses opened on a bullish note on Friday with benchmark indices Sensex trading 247.29 points higher at 37,574.65 and Nifty up 77 points at 11,109.45. The 10-year government bond yield was at 6.41 per cent in morning trade. (PTI)

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