Rupee Strengthens Against Dollar Amid Weaker Greenback

The Indian rupee gained strength against the US dollar in early trade on Thursday, rising to 95.56 from its previous close of 95.73.

The currency's appreciation was driven by a weaker greenback and gains in domestic equities, with the BSE Sensex up 504.32 points or 0.66% at 77,416.16 and the NSE Nifty advancing 118.85 points or 0.49% to 24,198.55.

The dollar index was trading marginally lower at 98.82 after the US Treasury announced an increase in its purchases of longer-dated government bonds, which put pressure on US long-term yields and reduced the appeal of the greenback.

Elevated crude oil prices capped gains in the Indian currency, with Brent crude futures rising 0.32% to $91.91 a barrel.