Forex traders said trading is likely to be limited this week ahead of year-end holidays
The Indian rupee was trading in a narrow range in early morning trade on December 29 as a softening in the domestic equity market and firming crude oil prices weighed on investor sentiment.
At the interbank foreign exchange, the rupee started on a weak note at 74.69 against the dollar. It traded in a narrow range of 74.68 to 74.76 in opening deals.
On December 28, the rupee recorded its ninth straight gain and closed at a one-month high of 74.70, up 30 paise against the US dollar.
On the domestic equity market front, the 30-share Sensex was trading 74.75 points or 0.13% higher at 57,972.23, while the broader NSE Nifty was trading 13.15 points or 0.08% higher at 17,246.40.
Forex traders said trading is likely to remain limited this week ahead of the year-end holidays.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.02% to 96.18.
Global oil benchmark Brent crude futures rose 0.20% to $79.10 a barrel.
Foreign institutional investors were net buyers in the capital market on December 28 as they bought shares worth 207.31 crore, as per stock exchange data.
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