Rupee rises 17 paise to 77.17 against US dollar

The Indian rupee, on Wednesday, surged 17 paise to 77.17 against the US dollar in opening trade as the US currency retreated from its elevated levels.

The domestic currency opened at 77.24 against the US dollar at the interbank foreign exchange and further gained ground at 77.17, registering a rise of 17 paise from the last close.

On Tuesday, the rupee had settled at 77.34 against the American currency, while on Monday it had declined by 54 paise to close at a record low of 77.44 against the US dollar.

The dollar index was trading at 103.85, down 0.06 per cent.

According to the Forex traders, firm crude oil prices, muted domestic equities and continues foreign fund outflows could restrict the rupee’s gain.

The 30-share Sensex was trading 27.61 points or 0.05 per cent higher at 54,392.46, while the broader NSE Nifty advanced 8.30 points or 0.05 per cent to 16,248.35.

(With input from agencies)