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Forex Market: trades in narrow range against US dollar

Mumbai: The Indian rupee is trading in a narrow range against the US dollar. The rising crude oil prices and the concerns over a rise in the US Federal Reserve have weighed upon the domestic currency.

At the interbank foreign exchange, the Indian rupee opened at 79.73 against the US dollar and moved in a narrow range. It touched an early low of 79.79 in initial deals. On Monday, the rupee rose by 12 paise to close at 79.78 against the US dollar

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The dollar index, which measures the US dollar’s strength against a basket of six currencies, fell 0.10% to 106.37. Foreign institutional investors remained net sellers in the Indian share  market, offloading shares worth Rs 844.78 crore.



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