The Indian rupee appreciated by 24 paise to 73.31 against the US dollar in opening trade on Tuesday. The surge was due to the positive domestic equities amid improving risk appetite.
The local-unit at the interbank-forex-market opened at 73.32 against the US dollar, then inched higher to 73.31 against the greenback.
“The US dollar extended gains on Tuesday on bets of a faster economic recovery”, Reliance securities said in a research note.
However, most of the Asian currencies have started weaker this Tuesday morning and could weigh on sentiments, the note added.
On the domestic equity market front, the 30-share BSE benchmark Sensex was trading 516.20 points higher at 50,366.04, and the broader NSE Nifty advanced 144.25 points to 14,905.80.
