Moreover, the strength of the American currency in the overseas market and elevated crude oil prices weighed on the local unit and restricted the upmove | Photo: Bloomberg
The rupee appreciated 5 paise to 83.54 against the US dollar in early trade on Wednesday, boosted by positive sentiments in the domestic equity market.
Forex traders said rupee is trading in a narrow range as all eyes are on the US May CPI print and the Fed rate decision on the global front and India’s Consumer Price Index (CPI) on the domestic front.
Moreover, the strength of the American currency in the overseas market and elevated crude oil prices weighed on the local unit and restricted the upmove.
At the interbank foreign exchange market, the local unit opened at 83.56 and gained further to trade at 83.54 against the greenback in initial deals, registering an increase of 5 paise from its previous…
