Rupee trades in narrow range against U.S. dollar in early trade
The Hindu
Rupee range-bound vs US$ on Monday; investors await FOMC/FED decision. Dollar index down 0.05 to 101.01. Brent crude at $80.99/barrel. Asian currencies trading down vs US$. India's forex reserves up $12.743B to $609.022B. Sensex down 87.24 points, Nifty down 10.65 points. FIIs net sellers, offloading shares worth ₹1,998.77 crore. Rupee opens near 82 level, investors watch FOMC/FED decision.
The rupee witnessed range-bound trading against the U.S. dollar in early trade on Monday as crude oil prices hovering above $80 per barrel and a negative trend in domestic equities weighed on investor sentiments.
Forex traders said investors are watching on the sidelines and awaiting cues from ensuing FOMC meeting and U.S. FED decision this week.
At the interbank foreign exchange, the rupee opened at 82.00 against the dollar, and touched 82.01, registering a fall of 3 paise over its previous close.
In initial trade the rupee touched a high of 81.98 against the American currency.
On Friday, the rupee closed at 81.98 against the U.S. currency.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell marginally by 0.05 to 101.01.
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