Rupee rises 13 paise to 85.92 against US dollar in early trade

MUMBAI: The rupee gained 13 paise to 85.92 against the US dollar in early trade on Wednesday amid hopes of an end to hostilities between Israel and Iran, and a strong opening in domestic equity markets.

However, rise in global crude oil prices — which had declined for two consecutive sessions — and FII outflows limited the gains for the local unit, according to forex traders.

At the interbank foreign exchange, the rupee opened at 86.00 before rising to 85.92, up 13 paise from its previous close. The local unit had logged its steepest single-day gain in nearly five years on Tuesday to end 73 paise higher at 86.05 against the greenback. PTI