The rupee opened 24 paise higher at 73.31 against the US dollar in early trade.

On March 2, the rupee opened 24 paise to 73.31 against the US dollar.

In the interbank foreign exchange market, the local unit opened at 73.32 against the US dollar, then at a higher level of 73.31 against the greenback, a rise of 24 paise from its previous close.

The rupee closed at 73.55 against the US currency on 1 March.

Meanwhile, the Dollar Index, which estimates the strength of the greenback against a basket of six currencies, rose 0.18% to 91.20.

Reliance Securities said in a research note, “The US dollar boosted gains on Tuesday on the stakes of a rapid economic recovery and may reduce appreciative bias.”

However, most Asian currencies have weakened on the morning of March 2 and may weigh on sentiments, the note added.

On the domestic equity market front, the 30-share BSE benchmark Sensex was up 516.20 points to 50,366.04, and the broader NSE Nifty was trading 144.25 points higher at 14,905.80.

Foreign institutional investors were net buyers in the capital market as they bought shares worth ₹ 125.15 crore as per exchange data on 1 March.

Brent crude futures, the global oil benchmark, slipped 1.13% to $ 62.97 a barrel.