Rupee Surges 22 Paise to 73.54 Against US Dollar in Early Trade

However, month-end importer bids, equity-related outflows and the Reserve Bank of India’s presence to curb volatility could limit gains of the currency, it added. Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.19 per cent down at 93.70.

On the domestic equity market front, the 30-share BSE benchmark Sensex was trading 517.22 points higher at 38,585.15 and broader NSE Nifty surged 139.10 points to 11,386.65.

Foreign institutional investors were net sellers in the capital market as they offloaded shares worth Rs 712.48 crore on Wednesday, according to provisional exchange data.

Brent crude futures, the global oil benchmark, fell 0.19 per cent to USD 40.95 per barrel.