Forex traders said the rupee rose after the American currency dropped from its elevated levels, following a slower-than-expected US job growth in October.
Forex traders said the rupee is trading in a narrow range as sustained foreign fund outflows and strength of the American currency in the overseas market weighed on investor sentiments.
An upward trend in the crude oil prices and selling pressure from foreign equity investors continued to weigh on the Indian currency, forex traders said.
Forex traders said the rupee is trading in a narrow range as sustained foreign fund outflows and strength of the American currency in the overseas market weighed on investor sentiments.
Forex traders said positive macroeconomic data supported the rupee, while geopolitical tensions, particularly the Israel-Hamas conflict, dented investor sentiments
Analysts said that the dollar index remained elevated above 106 after the US data showed the country's inflation slightly higher than estimated, raising expectations of further interest rate hikes by the US Federal Reserve.
The rupee opened at 83.17 and then traded between the range of 83.13 to 83.17 against the greenback. The Indian unit later traded at 83.14 against dollar, registering a gain of 4 paise from its previous close.