Rupee rises 22 paise to 96.51 against U.S. dollar in early trade
The Indian rupee strengthened by 22 paise to 96.51 against the U.S. dollar in early trade, aided by a weaker dollar. This rise follows a previous decline where the rupee ended 20 paise lower at 96.73. Forex traders noted that while the rupee gained, Foreign Institutional Investor outflows and a drop in domestic equity markets continued to exert pressure on the currency.