The rupee slipped 2 paise to hit the 78-level in opposition to the US greenback in opening commerce on Tuesday.
At the interbank international alternate, the rupee opened at 78 in opposition to the US greenback, registering a fall of two paise over the past shut.
“With RBI’s (Reserve Bank of India’s) management, the rupee shall remain in a tight range of 77.80-78.20. If the range is broken on either side, it can lead to a movement of 30 to 50 paise,” mentioned Amit Pabari, MD, CR Forex.
In the earlier session, the rupee had appreciated by 7 paise to settle at 77.98 in opposition to the US greenback as crude oil costs retreated from elevated ranges.