The rupee today moved higher against the US dollar today, tracking strong gains in domestic equity markets. After opening at 75.53, the rupee moved as much as 75.14 against the rupee before paring some gains.
In comparison, the rupee had closed at 75.59 per dollar in the previous session. The rupee traded at 75.55 recently with domestic stock market index Sensex up about 1,200 points.
So far during the day, the rupee traded in the range of 75.14 to 75.63 against the US dollar. Global oil prices on Monday fell to their lowest levels in 18 years as markets fear the world may run out of storage space. "There is massive inventory build up as demand has taken a hit while Saudi and Russia disagreement over production cuts has kept supply