Rupee rises 35 paise to 95.64 against US dollar in early trade

The rupee extended its upward momentum, rising 35 paise to 95.64 against the US dollar in early trade on Tuesday, supported by lower crude oil prices, easing geopolitical tensions and a weak US dollar.

At the interbank foreign exchange, the rupee opened at 95.75 and gained further to trade at 95.64 against the greenback, up 35 paise from its previous close.

The rupee had appreciated 54 paise to close at 95.99 against the US dollar on Monday, after gaining 20 paise in the previous session.

The dollar index, which measures the greenback's strength against a basket of six currencies, was down 0.06 per cent at 101.31.

Brent crude, the global oil benchmark, was trading 1.43 per cent lower at USD 87.10 per barrel in futures trade.

Forex traders said the rupee was also supported by positive sentiment in domestic equity markets.

The Sensex rose 14.66 points, or 0.02 per cent, to 76,850.44, while the Nifty gained 27.10 points, or 0.11 per cent, to 24,023.45.

Foreign Institutional Investors sold equities worth Rs 1,688.23 crore on a net basis on Monday, according to exchange data.