Rupee rises 7 paise to 82.56 against U.S. dollar
The Hindu
The rupee gained 7 paise to 82.56 against the U.S. dollar in early trade on June 6 tracking the weakness of the American currency in the overseas market.
The rupee gained 7 paise to 82.56 against the U.S. dollar in early trade on June 6 tracking the weakness of the American currency in the overseas market.
Rupee is trading in a narrow range as market participants are vigilant ahead of the RBI's monetary policy later this week. RBI is expected to leave the repo rate unchanged at 6.5%.
At the interbank foreign exchange, the domestic unit opened at 82.56 against the dollar, registering a gain of 7 paise over its previous close.
On June 5, the rupee closed at 82.63 against the U.S. currency.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.04% to 103.96.
Brent crude futures, the global oil benchmark, declined 0.20% to $76.56 per barrel.
"The USDINR pair has entered a consolidation phase and is likely to move within the 82.20-82.85 range for a couple of sessions," CR Forex Advisors MD Amit Pabari said.