Rupee Trades Range-Bound Against US Dollar Amid Strong Greenback

The Indian rupee witnessed a range-bound trading session against the US dollar on Tuesday, influenced by the strength of the American currency and heightened crude oil prices.

Interbank Forex Exchange: Opening and Movement:

At the interbank foreign exchange, the rupee commenced trading at 83.37 against the greenback (equivalent to 23.15 UAE dirham) and later touched 83.35. This movement marked a marginal rise of 4 paise compared to its previous closing rate.

In the preceding session, the rupee depreciated 6 paise, settling at 83.39 against the US dollar (equivalent to 23.16 UAE dirham). The current session reflects a nuanced movement in the exchange rate, with the rupee displaying resilience against the greenback.

Rupee’s Performance in Recent Days:

The recent trading sessions have showcased the rupee’s resilience amidst external factors such as the strength of the US dollar and elevated crude oil prices. Despite fluctuations, the rupee has navigated a range-bound trajectory, reflecting the dynamic nature of currency markets.