Rupee slips 4 paise to 74.44 against US dollar in early trade
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The Indian rupee depreciated 4 paise to 74.44 against the US dollar in opening trade on Monday, as investors are awaiting cues from the US Fed's policy decision, due this week. At the interbank foreign exchange, the rupee opened at 74.43 against the dollar,Rupee slips 4 paise to 74.44 against US dollar in early trade
The Indian rupee depreciated 4 paise to 74.44 against the US dollar in opening trade on Monday, as investors are awaiting cues from the US Fed's policy decision, due this week. At the interbank foreign exchange, the rupee opened at 74.43 against the dollar, then fell further to 74.44, registering a fall of 4 paise over its previous close. On Friday, the rupee had settled at 74.40 against the US dollar. «As markets brace up for the FED meeting on July 28, all currencies are consolidating in their respective small ranges,» said Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors. USD/INR is expected to keep a range of 74.30 to 74.70 for the day, Bhansali said, adding that «importers to buy cash near the lower end of the range while exporters to sell at the higher end». Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading down 0.05 per cent at 92.86. "Investors will be closely eyed to assess the timing of the Read more