Rupee rises 15 paise to 95.28 against US dollar in early trade

The Indian rupee strengthened by 15 paise to 95.28 against the US dollar in early trade, rising from its previous close of 95.43, supported by Saudi Arabia's record cut of USD 11 per barrel in Asia oil prices and lower Middle East risk premium. Indian equity markets opened higher with the Sensex advancing 176 points to 78,461.16 and the Nifty up 34.1 points at 24,464.45, while FIIs purchased equities worth Rs 243.03 crore on Monday. Brent crude was trading 0.64 percent higher at USD 72.45 per barrel as renewed Strait of Hormuz security concerns partly offset expectations of strong global supply.