India, June 9 -- The rupee moved in a narrow range and slipped by 4 paise to 85.72 against the US dollar in early trade on Monday, pressured by elevated crude oil prices and a firm dollar index.
According to forex traders, although the rupee initially gained on the back of the RBI's rate cut, the sharp reduction has narrowed the interest rate gap with global counterparts, limiting further upside.
At the interbank foreign exchange market, the rupee opened at 85.61 against the US dollar. During the early session, it touched a high of 85.60 and a low of 85.72, marking a 4-paise decline from its previous close
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