Rupee sees high volatility as worries resurfaced around new COVID strain
The Hindu
Investor concern resurfaced about lockdowns amid a rise in COVID cases in Europe and a new variant, detected in South Africa
The rupee started on a choppy note on Monday as investors turned cautious tracking heavy selling in domestic equities and worries over a new variant of COVID-19.
At the interbank foreign exchange, the rupee opened higher by 5 paise at 74.84 against the greenback and later touched a high of 74.82.
However, the local unit pared gains in late morning deals amid high volatility. The rupee was trading down by 9 paise at 74.98 at 1035hrs.
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The rupee settled flat at 84.07 (provisional) against the U.S. dollar on Oct 29.