Home Economy Rupee rises 7 paise to 74.15 against US dollar in early trade

Rupee rises 7 paise to 74.15 against US dollar in early trade

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Traders said the domestic unit is trading in a narrow range as investors are awaiting cues from the key speech from U.S. Federal Reserve Chair

The Indian rupee gained 7 paise to 74.15 against the U.S. dollar in opening trade on August 27, amid a muted trend in the domestic equities.

Traders said the domestic unit is trading in a narrow range as investors are awaiting cues from the key speech from U.S. Federal Reserve Chair Jerome Powell.

Moreover, a firm dollar in the overseas markets and rising crude prices weighed on the investor sentiment, forex traders added.

At the interbank foreign exchange, the rupee opened at 74.17 against the dollar, then inched higher to 74.15, up 7 paise over its previous close.

On August 26, the rupee had settled at 74.22 against the U.S. dollar.

Global oil benchmark Brent crude futures rose 1.04% to $71.81 per barrel.

Meanwhile, according to a media report, RBI Governor Shaktikanta Das has said that all the actions of the…

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