MUMBAI: The rupee rebounded from six-month low level and appreciated by 23 paise to 71.48 against the US dollar in early trade on Wednesday.
On Tuesday, the rupee had closed at a new six-month low of 71.71 against the US dollar as economic uncertainties continued to weigh.
At the interbank foreign exchange, the rupee opened at 71.48, registering a rise of 23 paise over its previous close of 71.71.
The domestic unit pared some gains and was trading at 71.57 against the dollar at 0951 hrs.
According to provisional exchange data, Foreign institutional investors (FIIs) remained net buyers in the capital market, putting in Rs 373.23 crore on Tuesday.
The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.03 per cent to 98.22.
Brent crude futures, the global oil benchmark, rose 0.52 per cent to trade at USD 60.34 per barrel.
Domestic bourses opened on a cautious note on Wednesday with benchmark indices Sensex trading 11.28 points lower at 37,316.73 and Nifty down 8.60 points at 11,008.40.
The 10-year government bond yield was at 6.57 per cent in morning trade.
With inputs from PTI