Rupee edges 6 paise up against US dollar in early trade

The rupee on Wednesday, September 20, strengthened by 6 paise to 83.26 against the US dollar in early trade on easing global crude oil prices and rising appetite for riskier assets. However, a sell-off in the domestic equity markets and a strong American currency against major rivals overseas restricted the rupee’s rise, traders were quoted as saying in a Press Trust of India (PTI) report.

At the interbank foreign exchange, the domestic unit opened at 83.22 against the dollar and then slipped to 83.26, registering a gain of 6 paise over its previous close. In the initial trade, the domestic unit was moving in a tight range of 83.27-83.22 against the American currency, the report said.

In the previous session on Monday, the rupee had settled at an all-time low of 83.32 against the dollar. Currency markets were closed on Tuesday on account of Ganesh Chaturthi.