Rupee moves in narrow range against U.S. dollar in early trade
The Hindu
The rupee was trading in a narrow range in the morning session on April 24 as positive sentiment over domestic equities rises and easing crude oil prices were partially negated by a stronger American currency in the overseas market.
The rupee was trading in a narrow range in the morning session on April 24 as positive sentiment over domestic equities rises and easing crude oil prices were partially negated by a stronger American currency in the overseas market.
At the interbank foreign exchange, the rupee opened at 82.08 against the dollar. It touched an early high of 82.05 in initial deals.
The rupee on April 21 settled at 82.06 against the U.S. dollar.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 101.80, down 0.02%.
Global oil benchmark Brent crude futures declined 0.92% to $80.91 per barrel.
On the domestic equity market front, BSE Sensex was trading 86.9 points or 0.15% higher at 59,741.96 points while the broader NSE Nifty advanced 28.95 points or 0.16% to 17,653 points.
Forex traders said significant foreign fund outflows also dented investor sentiments and weighed on the local unit.
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