MUMBAI: The rupee appreciated by 9 paise to 69.47 against the US dollar in early trade on Thursday.
“Selling of the American currency by exporters, fresh foreign fund inflows and positive opening in domestic equities supported the rupee”, Forex dealers said.
At the interbank foreign exchange, the rupee opened on a weak note at 69.60, but gathered momentum and rose to a high of 69.47 against the US dollar, showing 9 paise gain over its previous closing.
The local unit, however, pared some gains and was quoted at 69.54 against the American currency at 0951 hrs.
On Wednesday, the currency market was shut on account of Maharashtra Day.
On Tuesday, the rupee had settled at 69.56 against the US dollar.
According to provisional exchange data, foreign institutional investors (FIIs) remained net buyers in capital markets, putting in Rs 114.59 crore on Tuesday.
Brent crude futures, the global oil benchmark, fell 0.29 per cent to trade at USD 71.97 per barrel.
Domestic bourses opened on a cautious note on Thursday with benchmark indices Sensex trading 43.96 points up at 39,075.51 and Nifty down 7.15 points at 11,741.00.
Meanwhile, the US Federal Reserve officials held key interest rates steady amid lack of inflationary pressures.
With inputs from PTI