The rupee witnessed range-bound trading and settled higher by 6 paise at 88.20 (provisional) against the US dollar on Monday, as the domestic unit was caught between worries over US trade tariffs and hopes of a FED rate cut.
Forex traders said, likely intervention of the RBI has helped in controlling volatility and preventing a quick depreciation of the local unit.
At the interbank foreign exchange, the rupee opened at 88.25, then touched an intraday low of 88.30 and a high of 88.13 against the greenback during the day.
The domestic unit settled for the day at 88.20 (provisional), higher by 6 paise over its previous close.
On Friday, the rupee recovered from all-time lows and settled higher by 9 paise at 88.26 against the US dollar. -- PTI
