The Indian rupee appreciated by 9 paise to 83.19 against the US dollar (23.1 against the UAE dirham) in early trade on Thursday, tracking its Asian peers as risk-on sentiments prevailed in the market as the US Fed was a bit dovish in its policy meeting.
A weak US dollar overseas and positive domestic equities supported the currency in early trade, forex traders said.
The US Fed kept interest rates on hold, and its chairman looked content with the economy’s soft landing. Following the decision, the dollar index softened, and the 10-year bond yield fell to 4.70.