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Rupee recovers to settle higher against US dollar

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Indian equity markets closed with minor losses today in a volatile session. Easing crude oil prices and foreign fund inflows supported rupee, while strong US dollar and rising coronavirus cases weighed on investor sentiments.Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.25% to 97.38."Rupee ended muted on inflows into local stocks and selling by exporters.

Indian stocks swung between gains and losses after the International Monetary Fund slashed its growth outlook for the country and forecast a deeper global recession.

Rupee keeps its range bound trades continued between 75.50-75.90 and broad range of 75.00-76.40," says Jateen Trivedi, Senior Research Analyst (Commodity &.

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