The Indian rupee appreciated by 23 paise to reach 84.54 against the US dollar in early trade on Thursday, following the US Federal Reserve’s decision to keep interest rates unchanged.
According to forex traders, continued foreign capital inflows and a softer dollar supported the local currency. However, ongoing geopolitical tensions continue to weigh on investor sentiment.
At the interbank foreign exchange market, the rupee opened at 84.61, touched a low of 84.65, and then strengthened to a high of 84.54, marking a 23-paise gain from its previous close.