INR stays in narrow range amid elevated crude oil prices and strong dollar
Mumbai, Oct. 28 -- The Indian rupee traded in a narrow range and edged up by just 4 paise to 95.03 against US dollar in early trade on Wednesday amid elevated crude oil prices and strong dollar. The rupee is under pressure amid persistent macroeconomic headwinds, including global dollar strength and Brent crude prices hovering near USD 115 per barrel. At the interbank foreign exchange market, the rupee recorded marginal gains and touched 95.03, registering a rise of 4 paise over its previous close. Local shares are seen opening little changed on Wednesday despite firm cues from global markets. Information technology stocks may come under selling pressure after an AI-fueled tech rally sent U.S. stocks to a higher close on Tuesday. The BSE ...
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