Rupee Gains as US Dollar Weakens Amid Treasury Buybacks

The rupee has appreciated by 17 paise to 95.56 against the US dollar in early trade on Thursday, following a weak US dollar.

This comes after the US Treasury announced that it would double its buyback operations for longer-dated Treasury bonds, which pushed US long-term yields lower and reduced the dollar's yield advantage.

The dollar index fell to its lowest level since late May, further weighing down the dollar's strength.