India, Feb. 9 -- The rupee appreciated 21 paise to 90.44 against the US dollar in early trade on Monday, supported by improved sentiment following the announcement of a framework for an interim trade pact between India and United States.
Forex traders said the domestic currency opened on a weaker note but quickly recovered losses to trade in positive territory. Sentiment was boosted after both countries announced over the weekend that they had reached a framework for an interim trade agreement, under which import duties on select goods will be reduced to enhance bilateral trade.
A retreat in the dollar index and firm trends in domestic equity markets further supported the rupee. At the interbank foreign exchange market, the rupee opened a...