India, Jan. 2 -- The Indian rupee moved in a narrow range during early trade on Friday, rising 6 paise to 89.92 against the US dollar. Thin liquidity conditions amplified routine demand–supply dynamics, keeping the domestic currency biased toward weakness.
Forex traders said the USD/INR pair is expected to remain range-bound, with the 90 level being actively defended by the Reserve Bank of India. Support from positive domestic equities was largely offset by sustained foreign fund outflows, limiting further upside in the rupee.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....