Rupee rises 23 paise to 84.54 against US dollar in early trade

MUMBAI: (May 8) The rupee gained 23 paise to 84.54 against the US dollar in early trade on Thursday, as the US Federal Reserve kept the federal fund rate steady.

Forex traders said sustained foreign fund inflows and overall dollar weakness supported the local unit but geopolitical tensions continue to dent investor sentiments.

At the interbank foreign exchange, the domestic unit opened at 84.61 and fell to an early low of 84.65 and a high of 84.54 against the greenback, registering a gain of 23 paise over its previous close. PTI