Rupee trades in narrow range against US dollar in early trade

MUMBAI: (Dec 1) The rupee traded in a narrow range against the US dollar in early trade on Monday, as the support from positive domestic equities was negated by elevated crude oil prices and foreign fund outflows.

Forex traders said significant dollar demand by importers has exerted persistent downward pressure on the local currency.

Moreover, investors are adopting a cautious stance amid ongoing trade tensions with the US, with expectations of a settlement towards the end of the year.