Rupee gains 23 paise to 70.21 versus US dollar in early trade

The rupee appreciated by 23 paise to 70.21 against the US dollar in opening trade on Wednesday, driven by easing crude prices, higher opening in domestic equities and on U.S-China trade talk hopes.

Forex dealers said, investors sentiments were buoyed after U.S President Donald Trump on Tuesday hoped that the world's top two economies would be able to reach an agreement.

The rupee opened strong at 70.32 at the interbank forex market then gained further ground and touched 70.21 amid a positive opening in domestic equities, displaying gains of 23 paise over its last close.

The rupee on Tuesday recovered 7 paise to close at 70.44 to the US dollar.