The rupee 'will stay in a narrow range today,' a foreign exchange trader at a state-run bank said
The rupee 'will stay in a narrow range today,' a foreign exchange trader at a state-run bank said
It was a challenging session for Asian currencies overall because of weak China data and an uptick in US Treasury yields
Investors are awaiting the GDP data for the first quarter of the current fiscal year, which will be released later in the day
The dollar index had its worst session in one-and-a-half months after US job openings, a measure of labour demand, dropped 338,000 to 8.827 million
Higher US yields will keep the dollar bid and the rupee is not likely to see much upside from here, traders said
An upward movement in crude prices also weighed on the South Asian currency
Forex traders say selling pressure in the greenback and retreating crude oil prices also gave the Indian currency a boost
The South Asian currency recently hit a low of 83.16 against the US dollar, from which it recovered primarily on the Reserve Bank of India's repeated intervention
The dollar index, meanwhile, rose to 102.98, while Asian currencies declined up to 0.8 per cent on the back of higher US yields
The Korean won and Indonesian rupiah were leading losses in Asian currencies, while the Chinese yuan dropped to a one-month low