The rupee today appreciated 12 paise to close at Rs. 74.78 against the US dollar, tracking weakness in the greenback and gains in the domestic equity market.  

Forex traders said, gains in the domestic currency were supported by foreign fund inflows into domestic equity and debt markets.

The dollar index, which gauges the US currency strength against a basket of six currencies, was trading 0.13 per cent lower at 93.46.