Rupee gains 3 paise to 89.95 against US Dollar in Early Trade

India, Dec. 30 -- The rupee strengthened by 3 paise to 89.95 against the US dollar in early trade on Tuesday, supported by a weaker greenback and stronger-than-expected Index of Industrial Production (IIP) data.

Forex traders said the upside in the local currency was limited due to continued foreign institutional investor (FII) outflows, marginally higher crude oil prices, and a weak opening in domestic equity markets.

At the interbank foreign exchange, the rupee opened at 89.98 against the US dollar and later firmed up to 89.95, compared with its previous close.

Published by HT Digital Content Services with permission from Dion Global Solutions Limited....