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Rupee trades in a narrow band against the dollar
At the interbank foreign exchange market, the rupee opened at 88.64 against the US dollar. During the session it touched an intraday high of 88.64 and an intraday low of 88.71, reflecting a modest intraday swing.
What the numbers indicate
The movement — a range of just 7 paise — points to muted volatility in early trading. Such a narrow band suggests limited directional pressure on the currency, leaving importers and exporters with little immediate exchange-rate-driven impact.
Factors to watch
- Global dollar trends: A stronger or weaker dollar can quickly change the rupee’s trajectory.
- Crude oil and commodity prices: Changes in input costs often influence currency sentiment.
- Domestic liquidity and policy cues: Reserve Bank operations and local fund flows can shift intraday moves.
Quick takeaways
- Opening rate: 88.64 per US dollar.
- Intraday high: 88.64.
- Intraday low: 88.71.
- Session characterized by limited volatility and a tight trading range.