The rupee today appreciated by as much as 74 paise to 74.93 against the US dollar, tracking firm domestic equities and some weakness in the US dollar.
At the interbank foreign exchange, the rupee opened at 75.16, then gained ground and touched 74.93. The rupee had settled at 75.67 against the US dollar in the previous session.
And the rupee last traded at 75.19 against the US dollar. The Sensex in noon trade was up nearly 1000 points. Risk sentiment across the world improved today after Gilead Science's experimental coronavirus drug remdesivir showed positive results in early trials.
Top US epidemiologist Anthony Fauci said Gilead Science's remdesivir "has a clear-cut, significant, positive effect in diminishing the time to recovery".