India, Feb. 12 -- The rupee appreciated 38 paise to 90.40 against the US dollar in early trade on Thursday, supported by foreign fund inflows and suspected intervention by the Reserve Bank of India.
Forex traders said that although foreign inflows were not substantial, they offered a positive psychological boost to the market. Additionally, the central bank has been maintaining ample liquidity in the banking system.
At the interbank foreign exchange market, the rupee opened at 90.55 against the US dollar and later strengthened to 90.40, marking a 38-paise gain over its previous close.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....