Rupee surges 14 paise to 75.28 against US dollar in early trade

The rupee appreciated 14 paise into 75.28 against the US dollar in early trade on Wednesday monitoring weakness in the greenback and gains in the domestic equity market.

Forex traders stated, investor sentiment reinforced after the individual clinical trials for COVID-19 vaccine were pioneered in India.

The rupee opened 75.35 from the US dollar, subsequently gained further ground and touched on 75.28 from the US dollar up 14 paise on its previous close.

It’d settled at 75.42 against the greenback on Tuesday.

The Indian Council of Medical Research (ICMR) on Tuesday stated human clinical trials for a possible vaccine for COVID-19 was pioneered in the country with roughly 1,000 volunteers engaging in the exercise for each of those two indigenously developed vaccine candidates.

The number of instances across the world connected to the disorder has crossed 1.32 crore and the death toll has topped 5.77 lakh.

Back in India, the death toll due to COVID-19 rose to 24,309 along with the number of diseases increased to 9,36,181, as stated by the health ministry.

Meanwhile, the dollar index, which gauges the greenback’s energy against a basket of six currencies, dropped 0.05 per cent to 96.21.

The 30-share BSE benchmark Sensex was trading 516.58 points higher at 36,549.64 and broader NSE Nifty rose 148.65 points into 10,756.00.

Brent crude futures, the global oil benchmark, climbed 0.44 per cent to USD 43.09 per barrel.