Rupee surges 32 paise to 71.70 against US dollar in early trade

The rupee on Tuesday opened 32 paise higher at 71.70 against the US dollar. The domestic unit on Monday declined by 36 paise to close below the 72 level for the first time in nine months, hit by a 'flash crash' in global currencies due to uncertainty over the trade front.

The currency settled at 72.02 to the US dollar, the lowest closing level since November 14, 2018, even as equities spurted more than 700 points at close on stimulus measures.

Foreign investors remained net sellers in the equity market offloading stocks worth Rs 752.9 crore on a net basis