Rupee rises 26 paise to 94.96 against US dollar during early trade

The rupee gained 26 paise to trade at 94.96 per US dollar on Tuesday morning, on robust domestic growth, contained fiscal slippage, and portfolio-related inflows.

Forex traders said the USD/INR pair appears to have found a strong near-term base around 95.10-95.20.

While MSCI-related inflows have provided temporary support.

At the interbank foreign exchange market, the rupee opened at 95.06, then gained ground to touch 94.96 against the US dollar, registering a gain of 26 paise from its previous close.

On Monday, the rupee pared initial losses and settled for the day with gains of 21 paise at 95.22 against the US dollar.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 99.46, higher by 0.03 per cent.

Brent crude, the global oil benchmark, was trading higher by 0.63 per cent at USD 91.06 per barrel in futures trade after US President Donald Trump warned that the United States would "hit Iran hard" following missil