Key Points
The rupee gained 8 paise to 82.77 against the U.S. dollar in early trade on Wednesday (May 24) supported by foreign fund inflows...
Forex traders said the rupee is trading in a narrow range as investors are awaiting cues from the minutes of the U.S. Fed's May meeting, due later in the day...
At the interbank foreign exchange, the domestic unit opened at 82.83 against the dollar and then rose to 82.77, registering a gain of 8 paise over its previous close...
"In the overseas markets, the US Dollar Index started flat to marginally stronger this early Wednesday morning in Asian trading ahead of FOMC meeting minutes," said Sriram Iyer, Senior Research Analyst-Commodities & Currencies Reliance Securities Ltd...
"The Chinese Yuan continued to weaken further and as investors continued to remain concerned about a US default as debt-ceiling dragged on the negative sentiment will weigh on the local unit," Mr. Iyer said...
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