Rupee rises 6 paise to 71.37 against US dollar in early trade

January 28, 2020 10:12

The Indian rupee appreciated by 6 paise to 71.37 against the US dollar in early trade on Tuesday tracking gains in domestic equity market and easing crude oil prices.

Forex traders said the rupee is trading in a narrow range amid fast-spreading coronavirus outbreak in China stoking fears about more trouble for the global economy.

The Centre on Monday decided to take steps for possible evacuation of over 250 Indians from Chinese city of Wuhan, the epicentre of the coronavirus outbreak, and announced a raft of precautionary measures to deal with suspected cases.

In India, no case has been detected so far though nearly 450 people have been kept under observation in the country. At the interbank foreign exchange the rupee opened at 71.37, registering a rise of 6 paise over its previous close. On Monday, rupee had settled for the day at 71.43 against the US dollar.

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