The Indian rupee erased some of its intraday gains buy trading higher by 21 paise at 71.91 per dollar against previous close of 72.12.
The Indian rupee clawed back some lost ground on September 4, gaining 27 paise to settle at 72.12 against the US dollar in line with a recovery in domestic equities, said PTI.
Gains in domestic equity market also supported the local unit and helped it recoup some of its losses of the previous session, it added.
The dollar-rupee September contract on the NSE was at 72.29 in the previous session. Open interest declined 2.21 percent in the previous session, said ICICIdirect.
We expect the USD-INR to find resistance at higher levels. Utilise upsides in the pair to initiate short positions, it further said.
(With inputs from PTI)
News Source:- Moneycontrol