Rupee trades in narrow range against U.S. dollar in early session
The Hindu
On March 31, last trading session of FY22, the rupee advanced by 16 paise to close at 75.74 against the U.S. dollar
The rupee started the financial year 2022-23 on a muted note and inched higher by 3 paise to 75.71 against the U.S. dollar in early trade on April 4 amid a firm trend in the domestic equity market.
At the interbank foreign exchange, the rupee opened lower at 75.77 against the American dollar, then touched an early high of 75.71, up 3 paise over its previous close. The local unit also reached 75.79 in initial deals.
On March 31, last trading session of FY22, the rupee advanced by 16 paise to close at 75.74 against the U.S. dollar.
The local unit, however, closed the 2021-22 fiscal with overall losses of 3.61% or 264 paise against the American currency due to a stronger dollar and surging crude oil prices.
The Forex market was closed on Friday for the annual account closing of banks.
Global oil benchmark Brent crude futures rose 0.13% to $104.53 per barrel.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.06% to 98.57.