India, March 6 -- The rupee traded in a narrow range on Friday and settled 6 paise lower at 91.70 (provisional) against the US dollar, as elevated crude oil prices and suspected intervention by the Reserve Bank of India influenced market movements.
Forex experts said heavy selling in domestic equities and persistent foreign fund outflows further weighed on the local currency.
However, losses were limited after the United States administration permitted Indian refiners to continue purchasing Russian oil for 30 days, easing concerns over global energy supplies amid the ongoing conflict in West Asia.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....