Rupee opens on flat note against U.S. dollar in early trade
The Hindu
The rupee witnessed range-bound trade as it opened at 75.03 against the U.S. dollar
The rupee opened on a flat note against the U.S. dollar in opening trade on Friday as caution set in amid worries about escalating Russia-Ukraine tensions.
At the interbank foreign exchange, the rupee witnessed range-bound trade as it opened at 75.03 against the U.S. dollar, saw an early high of 75.02 and a low of 75.05 against its previous close of 75.06.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.01% to 95.80.
Global oil benchmark Brent crude futures fell by 0.54% to $92.47 per barrel.
"Crude oil prices were weak this Friday morning and could lend support. However, possible escalation of tension in Eastern Europe could cap appreciation bias," said Sriram Iyer, Senior Research Analyst at Reliance Securities.
Markets could remain range-bound ahead of the weekly expiry, Mr. Iyer said.
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