Rupee trades in narrow range against U.S. dollar in early trade
The Hindu
Mumbai: Rupee trading range-bound against the dollar, supported by foreign fund inflows and negative domestic equities trend.
The rupee witnessed range-bound trading in initial deals against the U.S. dollar on March 11, as the support from fresh foreign fund inflows was negated by a negative trend in domestic equities.
Forex traders said the rupee exhibited strength supported by a weak dollar and easing crude oil prices.
At the interbank foreign exchange, the rupee opened at 82.74 against the dollar, but soon pared the losses and touched 82.64 against the greenback in initial trade, higher by 3 paise from its previous close.
On Thursday, the rupee climbed 16 paise to settle at 82.67 against the U.S. dollar.
The forex market was closed on Friday for Mahashivratri.
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