Rupee rises 6 paise to 68.92 against US Dollar in early trade
Mumbai: The Indian rupee appreciated by 6 paise to 68.92 against the US Dollar in early trade on Thursday.
Forex traders said heavy buying in the domestic equity market supported the domestic unit, however, foreign fund outflows and rising crude oil prices weighed on local currency.
Besides, Rupee is expected to trade in a narrow range ahead of the much crucial European Central Bank (ECB) policy statement to be released later on July 25.
At the interbank foreign exchange, the Rupee opened at 68.99, then gained momentum and touched a high of 68.92, registering a rise of 6 paise over its previous close. The domestic unit was trading at 68.96 against the Dollar at 0949 hrs.
The domestic currency had settled at 68.98 against the U.S. Dollar on Wednesday.