Tag: US dollar

The rupee traded in a narrow range against the US dollar in early trade on Friday, as the support from positive domestic equities was negated by elevated crude oil prices and strong American currency. The rupee is likely to trade with a slight negative bias on expectations that the US dollar may rise further. However, any intervention by the Reserve Bank of India and positive domestic markets may support the rupee at lower levels.

The Indian rupee appreciated against the US dollar in early trade on Thursday, tracking positive domestic equities and a weak US currency. The rupee is expected to remain supported by positive domestic equities and the US dollar's weakness, but the appreciation will be capped by elevated crude oil prices. The Reserve Bank of India (RBI) is likely to remain in a wait-and-see mode and may not intervene in the market unless the rupee depreciates sharply.