Mumbai: The Indian rupee on Thursday surged by 14 paise to 70.32 against the US dollar in early trade amid weakness in the American currency due to uncertainty over Federal Reserve rate.
Forex traders opined that weakness in the US dollar against other currencies overseas, falling crude oil prices and fresh foreign fund inflows helped the rupee strengthen against US Dollar.
The rupee opened weak at Rs 70.49 at the Interbank Foreign Exchange, but soon appreciated to 70.32 against the greenback- up by 14 paise over its previous closing record.
On Wednesday, the domestic unit had depreciated by 25 paise to close at 70.46 against the US dollar.
Meanwhile, the benchmark BSE Sensex was trading down 27.62 points, or 0.08 per cent at 36,185.29, while the NSE Nifty was trading at 10, 839.65, down 15.50 points, or 0.14 per cent.
Brent crude, the global benchmark, was trading lower at 60.89 per barrel, lower by 0.90 per cent.