Rupee appreciates 5 paise to 83.54 against US dollar in early trade

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Rupee appreciates 5 paise to 83.54 against US dollar in early trade - Business Standard

Quick Summary:

At the interbank foreign exchange market, the local unit opened at 83.56 and gained further to trade at 83.54 against the greenback in initial deals, registering an increase of 5 paise from its previous closing level.

Forex traders said rupee is trading in a narrow range as all eyes are on the US May CPI print and the Fed rate decision on the global front and India's Consumer Price Index (CPI) on the domestic front.

The rupee appreciated 5 paise to 83.54 against the US dollar in early trade on Wednesday, boosted by positive sentiments in the domestic equity market.