Business

The rupee remained in a narrow range against the US dollar in early trade

Mumbai: A firming US dollar in overseas markets and higher crude oil prices influenced the rupee’s strength, due to which the rupee remained in a narrow range in early trade on Friday. At the interbank foreign exchange market, the rupee opened at 76.62 against the US dollar and then rose in a narrow range. The rupee also touched a high of 76.53 and a low of 76.63 in opening deals.

The rupee on Thursday closed down by 4 paise at 76.61 against the US dollar. Traders said firming in the domestic equity market and inflow of foreign capital stopped the rupee’s fall. Global oil standard Brent crude futures were up 0.01 per cent at $107.60 per barrel. Meanwhile, the dollar index, reflecting the US dollar’s position against the six major currencies, fell 0.14 per cent to 103.48.

Shivam Bangwal

Shivam Bangwal is an India-based Entrepreneur. He is the Founder of Successful Startups like Youthistaan, People News Chronicle, Hitchhike TV & Branding Panther. Shivam has done his Master's in Computer Applications.

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