The Indian rupee rose 7 paise to 72.62 against the US dollar in early trade on Thursday amid growing concerns over growing coronovirus cases in India and some other parts of the world.
In the interbank forex market, the rupee opened significantly lower at $ 72.68 per dollar, but reopened some of its losses as the morning trade progressed.
Meanwhile, the Dollar Index, which estimates the strength of the greenback against a basket of six currencies, rose 0.03% to 92.55.
Brent crude futures, the global oil benchmark, fell 1.04% to $ 63.55 a barrel.
Analysts believe that market volatility will remain for some time due to uncertainty due to the second wave of COVID-19 attack in India and the third wave in parts of Europe.
On the domestic equity market front, the BSE Sensex slipped nearly 500 points, or more than 1%, while the broader NSE Nifty slipped 135 points or 0.93%.
Foreign institutional investors were net sellers in the capital market on Wednesday as they sold shares worth ₹ 1,951.90 crore as per exchange data.
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