MUMBAI: The rupee appreciated by 6 paise to 68.92 against the US dollar in early trade on Thursday.
“Heavy buying in the domestic equity market supported the domestic unit, however, foreign fund outflows and rising crude oil prices weighed on local currency”, Forex traders said.
At the interbank foreign exchange, the rupee opened at 68.99, then gained momentum and touched a high of 68.92, registering a rise of 6 paise over its previous close.
The domestic unit was trading at 68.96 against the dollar at 0949 hrs.
On Wednesday, the domestic currency had settled at 68.98 against the US dollar.
According to provisional exchange data, foreign institutional investors (FIIs) remained net sellers in the capital markets, pulling out Rs 1,393.71 crore on Wednesday.
Brent crude futures, the global oil benchmark, rose 0.19 per cent to trade at USD 63.30 per barrel.
Domestic bourses opened on a bullish note on Thursday with benchmark indices Sensex trading 320.35 points higher at 38,168.00 and Nifty up 83.60 points at 11,354.90.
With inputs from PTI