India, Dec. 24 -- The rupee appreciated 12 paise to 89.51 against the US dollar in early trade on Wednesday, supported by a major liquidity announcement from the Reserve Bank of India and weakness in the American currency in overseas markets.
Forex traders said the domestic unit opened on a strong footing after the RBI assured adequate system liquidity of around Rs 3 lakh crore, a move that is also expected to help contain excessive volatility in the rupee.
At the interbank foreign exchange market, the rupee opened at 89.56 against the US dollar, then strengthened further to 89.51, marking a gain of 12 paise from its previous close.
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