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
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.