The Indian rupee traded 27 paise higher at 67.49 against the US dollar in early trade after opening at 67.52.
Rupee after weakening for six consecutive weeks rose against the US dollar following ease in global crude prices and suspected RBI intervention at higher levels, as per Motilal Oswal report.
In the past few sessions RBI has been actively intervening to curb the volatility for the rupee. RBI data released, on Friday, showed reserves dropped by USD 2.6 billion for the week ended May 26 and in this month reserves have dropped by USD 11 billion.
Rupee after weakening for six consecutive weeks rose against the US dollar following ease in global crude prices and suspected RBI intervention at higher levels, as per Motilal Oswal report.
In the past few sessions RBI has been actively intervening to curb the volatility for the rupee. RBI data released, on Friday, showed reserves dropped by USD 2.6 billion for the week ended May 26 and in this month reserves have dropped by USD 11 billion.
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