Rupee rises 21 paise to 90.44 against the US dollar in early trade

MUMBAI: (Feb 9) The rupee gained 21 paise to 90.44 against the US dollar in early trade on Monday, supported by positive sentiments after India and the US reached a framework for an interim trade pact.

Forex traders said the rupee opened on a lower note, but soon gained the lost ground and was trading on a positive note after India and the US on Saturday announced they have reached a framework for an interim trade agreement under which both sides will reduce import duties on a number of goods to boost two-way trade. Moreover, a retreating dollar index and a positive trend in domestic equities further supported investor sentiments.

At the interbank foreign exchange market, the rupee opened at 90.66 against the US dollar, then gained some ground to touch 90.44, registering a gain of 21 paise over its previous close.