Rupee trades in narrow range against US dollar in early trade
The Rupee traded at 95.97 against the US dollar, falling by 3 paise amid dollar demand. Reserve Bank of India interventions have prevented the exchange rate from breaching the 96.00 mark. Furthermore, sustained foreign portfolio outflows and firm US yields are putting pressure on the Rupee. The dollar index is near a two-month high, affecting emerging market currencies. Additionally, Brent crude prices decreased by 1.
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