Rupee rises 17 paise to 95.56 against US dollar in early trade

During early trading on Thursday, the rupee showed resilience, strengthening against the US dollar as a result of the US Treasury's unexpected announcement to increase bond buyback operations. This led to a decline in the dollar index to its lowest point since late May. Meanwhile, the dollar faced added pressure from waning expectations of further tightening from the Federal Reserve, although high oil prices continue to strain India's import expenses.