Rupee gains 12 paise to 74.30 against US dollar in early trade

The rupee appreciated by 12 paise to 74.30 against the US dollar in opening trade on Friday, tracking gains in domestic equity markets.

At the interbank foreign exchange, the rupee opened strong at 74.35 against the American dollar, then inched higher to 74.30, registering a rise of 12 paise from the last close.

In the previous session, the rupee surged 29 paise to close at a more than one-month high of 74.42 against the US dollar.

The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.05 per cent higher at 96.01.

Meanwhile, on the domestic equity market front, the 30-share Sensex was trading 446.07 points or 0.77 per cent higher at 58,240.39, while the broader NSE Nifty advanced 143.40 points or 0.83 per cent to 17,347.35.

Global oil benchmark Brent crude futures fell 0.39 per cent to USD 79.22 per barrel.

Foreign institutional investors were net sellers in the capital market on Thursday, as they offloaded shares worth Rs 986.32 crore, as per exchange data.