Rupee surges 12 paise to 74.25 against US dollar in early trade
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The Indian rupee strengthened by 12 paise to 74.25 against the US dollar in early trade on Wednesday even as the domestic equity market was trading with significant losses. Traders said the Federal Reserve Chair Jerome Powell"s comments that the US central bank will not raise interest rates too quickly supported investor sentiments. At the interbank foreign exchange, the domestic unit opened at 74.26 against the dollar, then inched higher to 74.25, registering a gain of 12 paise over its previous close. On Tuesday, the rupee had settled at 74.37 against the US dollar.
