Rupee up 4 paise at 75.05 against U.S. dollar
The Hindu
The dollar index, which gauges the greenback's strength against a basket of six currencies, fell by 0.08% to 97.17
The Indian rupee eked out a marginal 4 paise gain at 75.05 against the U.S. dollar in morning trade on January 28, tracking positive opening in domestic equity markets.
However, strong American currency and elevated crude oil price level restricted the rupee's further recovery.
Forex traders said geopolitical tensions, sustained foreign fund outflows and hawkish U.S. Fed stance dragged down the local unit, while positive domestic equities supported the local unit in opening deals.
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The rupee appreciated 31 paise to close at 89.87 against the U.S. dollar, influenced by RBI intervention and falling oil prices.