The rupee consolidated in a narrow range and settled for the day higher by 1 paisa at 82.63 against the US dollar, as the support from positive domestic equities was negated by rising American currency and recovery in crude oil prices.
Forex traders said the Indian rupee witnessed modest gains on Monday on positive domestic equities. However, rising US dollars and recovery in crude oil prices capped sharp gains.
At the interbank foreign exchange, the domestic unit opened at 82.58 and finally settled for the day at 82.63 against the American currency.
During the day, the rupee witnessed an intra-day high of 82.52 and a low of 82.65 against the greenback.
On Friday, the rupee declined by 8 paise to settle at 82.64 against the US dollar.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.05 per cent higher at 104.07.
The US dollar gained on somewhat hawkish comments from the Fed Chair Jerome Powell at the Jackson Hole
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