Mumbai: The rupee appreciated 7 paise to 88.63 against the US dollar on Thursday, supported by a weak American currency against major rivals overseas and lower global crude oil prices.

However, subdued sentiment in domestic equity markets and continued outflow of foreign capital prevented a sharp gain in the Indian currency, forex traders said.

At the interbank foreign exchange, the rupee opened at 88.51 and touched the intra-day high of 88.49 against the greenback. The unit also hit the intra-day low of 88.66 before ending the session at 88.63, up 7 paise from its previous closing level.

The domestic unit had settled with a gain of 7 paise at 88.70 against the dollar on Tuesday.

The foreign exchange markets were closed on Wednesday on account of the Prakash Gurpurab holiday.

“Indian

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