The rupee edged up fourteen paise against the US dollar in early trade on Friday. Positive domestic equity markets supported the local unit's slight gain. However, significant foreign institutional investor outflows capped further appreciation. Heightened West Asian tensions and rising global crude oil prices also impacted the rupee. The rupee is expected to trade within a narrow range for the day.
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Rupee opened on a positive note as the U.S. and Iran have "largely negotiated" a peace pact to end the nearly three-month war
The rupee edged up fourteen paise against the US dollar in early trade on Friday. Positive domestic equity markets supported the local unit's slight gain. However, significant foreign institutional investor outflows capped further appreciation. Heightened West Asian tensions and rising global crude oil prices also impacted the rupee. The rupee is expected to trade within a narrow range for the day.
