Mumbai: The Indian rupee rose 3 paise to close at 70.91 against the US dollar on Wednesday amid lack of triggers and geopolitical uncertainties.
Easing crude oil prices propped up the local unit, though fresh capital outflows capped the gains, forex traders said.
Trading in emerging market currencies was subdued after British Prime Minister Boris Johnson lost the crucial Brexit Bill timetable vote. Besides, markets are also awaiting fresh cues on the potential US-China trade deal, they added.
At the interbank foreign exchange, the rupee opened lower at 71.01 then fell to 71.03 against the greenback. The domestic unit finally settled for the day at 70.91, higher by just 3 paise over its last close.
“Due to mixed global cues, investors are seen on sidelines. Lack of fresh triggers is causing rupee to trade in a range 70.80-71.05 in the last couple of days,” said Rahul Gupta, Head of Currency, Emkay Global Financial Services. (PTI)
