Indian rupee rises 10 paise, global economic slowdown concerns limit sharp gains

The Indian rupee has appreciated by 10 paise to 22.596 against the UAE dirham in early trade on Tuesday tracking a positive trend in domestic equities and foreign fund inflows.

Forex traders said the rupee is trading in a narrow range as the soft US dollar and positive domestic markets provided support, while concerns over global economic slowdown and rising expectations of a rate hike by FOMC amid strong economic data from the US may cap sharp gains for the local unit.

At the interbank foreign exchange, the domestic unit opened at 82.93, registering a rise of 10 paise over its last close.

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