Mumbai, Aug 6 (PTI) The rupee appreciated 16 paise to 74.78 against the US dollar in opening trade on Thursday ahead of the Reserve Bank of India's monetary policy decision.

At the interbank forex market, the domestic unit opened strong at 74.82 against the US dollar, gained further ground and touched 74.78 against the US dollar, registering a gain of 16 paise over its previous close.

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It had settled at 74.94 against the US dollar on Wednesday.

Forex traders said investor focus will be on the RBI monetary policy, scheduled for later in the day.

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"A 25 bps cut is widely anticipated. More than the cut, the tone of the policy statement and regulatory measures to facilitate transmission would be in focus," said Abhishek Goenka, Founder and CEO, IFA Global.

Besides, positive trend in the equity markets and weak American currency also supported the rupee, traders said.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.12 per cent to 92.75.

On the domestic equity market front, the 30-share BSE benchmark Sensex was trading 213.30 points higher at 37,876.63 and broader NSE Nifty advanced 63 points to 11,164.65.

Foreign institutional investors were net sellers in the capital market as they offloaded shares worth Rs 60.18 crore on Wednesday, according to provisional exchange data.

Brent crude futures, the global oil benchmark, rose 0.22 per cent to USD 45.27 per barrel. PTI DRR ANS ANS 08061033 NNNNr Sean Johnson on rare occasions.

Toronto's Patrick Mullins scored in the 87th minute off an assist from Jozy Altidore, but it was just the Reds second shot on goal in the match.

"You play these knockout games and obviously things are going to be tight," Toronto midfielder Michael Bradley said.

"You know every part of the game is so important and we we got off to a really bad start and from there never really found a good way in the game."

Medina was the recipient of a poor clearance by Bradley and was set up by Anton Tinnerholm's pass. Toronto goalkeeper Quentin Westberg got his hands on the shot but couldn't keep it out of the net.

Another clever assist led to Castellanos' goal in the 55th minute. Moralez chipped a blind pass into space and ended up at the feet of Castellanos. He made a quick cut on defender Omar Gonzalez and his shot grazed off Westberg's fingers and into the net.

Moralez added the clinching goal in the 81st minute as Toronto was caught on a counter attack. (AP)

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)