New Delhi :The rupee Wednesday appreciated by 8 paise to 71.49 in early trade on the forex market amid positive opening in domestic equities and fresh foreign fund inflows.
Forex traders said investors were cautious ahead RBI’s Monetary Policy Committee outcome scheduled for February 7.
Moreover, rising crude prices capped the gains for the domestic unit.
At the Interbank Foreign Exchange, the rupee opened higher at 71.56 then gained further ground to touch 71.49 against the US dollar, showing a gain of 8 paise over its previous closing.
In a very volatile trade, the domestic currency also touched a low of 71.60, showing a loss of 3 paise over its last close.
On Tuesday, the rupee had settled 23 paise higher at 71.57 against the US dollar.