Rupee rises 1 paisa to close at 82.62 against U.S. dollar
The Hindu
The rupee is trading in a narrow range as market participants are vigilant ahead of the RBI’s monetary policy later this week
The rupee consolidated in a narrow range to settle just 1 paisa higher at 82.62 (provisional) against the U.S. dollar on June 6 amid a muted trend in domestic equities.
The rupee is trading in a narrow range as market participants are vigilant ahead of the RBI's monetary policy later this week. The central bank is widely expected to leave the repo rate unchanged at 6.5%.
A strengthening greenback in the international markets also kept pressure on the domestic unit, Forex traders said. At the interbank foreign exchange market, the local unit opened at 82.56 against the U.S. dollar and settled at 82.62 (provisional), up 1 paisa over its previous close.
During the day, the domestic unit witnessed an intra-day high of 82.56 and a low of 82.66.
On Monday, the rupee closed at 82.63 against the U.S. currency.
The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.12% to 104.12.
Global oil benchmark Brent crude futures declined 1.60% to $75.48 per barrel.
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