Rupee rises 15 paise to 86.45 against dollar

Mumbai: The rupee appreciated 15 paise to close at 86.45 against the US dollar on Monday, as a decline in crude oil prices and the US dollar index supported investor sentiments..

Besides, a positive trend in domestic equities also helped the local currency,

Forex traders said the rupee is likely to trade within a volatile range of 86.20-86.80 ahead of key events in the global and domestic economic landscape.

At the interbank foreign exchange, the rupee opened on a strong note at 86.48 against the greenback.

During the day, the local unit touched an intraday high of 86.46 and a low of 86.57.

It finally closed at 86.45, a rise of 15 paise against the US dollar.

In the previous session on Friday, the rupee settled at 86.60.

USD/INR spot price is expected to trade in a range of 86.40 to 86.75.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading down 0.17 per cent to 109.16.

On the domestic macroeconomic front, India’s forex reserves dropped by $8.714 billion to $625.871 billion in the week ended January 10, the RBI said on Friday.

Earlier, the overall kitty dropped by $5.693 billion to $634.585 billion in the week ended January 3, the Reserve Bank said.