Rupee rises 8 paise to 87.50 against US dollar

MUMBAI: (Aug 11) The rupee appreciated 8 paise to 87.50 against the US dollar in early trade on Monday, tracking a weak American currency, as investors await cues from the upcoming talks between Russia and the US.

Forex traders said the Indian rupee opened with small gains on Monday and is expected to remain within a range of 87.25/87.80 while markets are in a wait-and-watch mode for the US and India CPI inflation and the US-Russia talks on August 15.

At the interbank foreign exchange, the domestic unit opened at 87.56 against the US dollar, then touched an initial high of 87.50, higher by 8 paise over its previous close.