Mumbai Oct 29 PTI The rupee surged 15 paise to 7477 against the US dollar in opening trade on Friday on expectation of better inflows into high profile initial public offerings IPOs At the interbank foreign exchange the rupee opened strong at 7478 against the dollar and inched further to 7477 in early deals a rise of 15 paise over its previous close On Wednesday the rupee had settled at 7492 against the US dollar Meanwhile the dollar index which gauges the greenbacks strength against a basket of six currencies rose 008 per cent to 9341 Global oil benchmark Brent crude futures rose 023 per cent to USD 8451 per barrel On the domestic equity market front BSE Sensex was trading 272 points higher at 5998742 while the broader NSE Nifty advanced 950 points or 005 per cent to 1786675 Foreign institutional investors were net sellers in the capital market Thursday as they offloaded shares worth Rs 381851 crore as per exchange data According to Anil Kumar Bhansali Head of Treasury Finrex Treasury Advisors rupee moving in a range of 7470 - 7520 The US data was lower than expectation yesterday with GDP coming at 2 per cent against expectation of 27 per cent Rupee is likely to remain in 74607500 range as NYKKA and Policy Bazaar inflows hit the market Exporters to sell only near to 7500 and importers to buy near 7470 for their near term exposures Bhansali said PTI DRR ANS ANS