INR edges higher in narrow range as support from foreign fund inflows is seen negated by broad-based strength in the dollar
Mumbai, Nov. 13 -- The Indian rupee traded in a narrow range and gained marginally by 7 paise to 94.05 against the US dollar in early trade on Friday, as the support from foreign fund inflows was negated by broad-based strength in the dollar. Rupee is showing positive momentum, driven by consistent foreign investments, lower crude oil prices, and a favourable external environment. However, strengthening of the American currency in the overseas market weighed on investors' sentiment. Indian shares were moving lower in early trade today as oil prices and U.S. Treasury yields spiked after U.S. Donald Trump downplayed the prospects of a comprehensive diplomatic solution with Iran, halted the negotiation process that Vice President Vance was a...
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