The rupee traded in a narrow range against the US dollar in early trade on Monday amid negative trend in the domestic stock market. Forex traders said the rupee was trading in a tight range as continuous outflow of foreign funds and rising crude oil prices weighed on investor sentiments.
The rupee opened at 83.25 against the dollar in the interbank foreign exchange market. After this it traded between 83.23 to 83.27 per dollar. The rupee had closed at 83.27 per dollar on Friday.
Meanwhile, the dollar index, which reflects the position of the US dollar against six major currencies of the world, fell by 0.36 percent to 103.54.
Global oil benchmark Brent crude was trading 0.73 per cent higher at $81.20 per barrel. According to stock market data, foreign institutional investors (FIIs) sold shares worth Rs 477.76 crore on Friday.
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