Rupee appreciates to 92.78 against US dollar. Crude oil prices drop, geopolitical tensions ease. Impact of RBI measures discussed.
Mumbai, Apr 20 (PTI) The rupee appreciated 13 paise to 92.78 against the US dollar in early trade on Monday, following a sharp drop in crude oil prices amid hopes of easing geopolitical tension and the impact of the Reserve Bank’s measures.
Forex traders, however, said the currency is likely to stay range-bound with the situation in West Asia remaining volatile after Iran closed the Strait of Hormuz for shipping.
At the interbank foreign exchange market, the rupee opened at 92.73 and moved up to 92.70 level before trading at 92.78 against the greenback in early deals, up 13 paise from the previous closing level.
The rupee strengthened 28 paise to settle at 92.91 against the US dollar on Friday, a day after gaining 19 paise in the preceding session on…
