In early trade on Thursday, the rupee gained versus the US dollar. The early gain, however, was limited due to a higher dollar in outside markets.

On Thursday's interbank forex market, the rupee rose 3 paise to 77.52 versus the US dollar.

Stock markets began in the green on Thursday morning

Meanwhile, stock markets began in the green on Thursday morning. The Sensex rose 0.35 percent, or 190.36 points, to 53,939.62, while the Nifty 50 fell 0.21 percent, or 33.90 points, to 16,059.70.

In limited activity on Wednesday, the rupee rebounded 2 paise to close at 77.55 against the US dollar.

The US dollar recovered from two days of losses ahead of the release of the minutes from the US Federal Reserve's meeting earlier this month. The US dollar index rose 0.4% to 102.25 versus a basket of six major currencies.

The rupee began higher at 77.54 per dollar

On the interbank forex market, the rupee began higher at 77.54 per dollar and traded in a range of 77.44 to 77.57 during the day. The rupee eventually closed at 77.55, up 2 paise from its previous closing of 77.57 versus the US dollar.

The Government has no plans for extra borrowing

According to stock exchange statistics, foreign institutional investors continued to be net sellers in the capital market on Wednesday, offloading shares worth Rs 1,803.06 crore.

Meanwhile, official sources stated on Wednesday that the government has no plans for extra borrowing and would keep to the borrowing target set for the current fiscal year, despite income losses due to lower levies on petroleum products and other items.