Rupee trades in narrow range against US dollar in early trade

LNEW DELHI: Rupee opened on a flat note and rose just 4 paise from its all-time low level to 84.71 against the US dollar in morning trade on Thursday, as the support from positive domestic equities was negated by the broad strength of the American currency in the overseas market.

Forex traders said rupee is likely to remain under pressure in the near-term amid strong dollar and elevated in crude oil prices.

At the interbank foreign exchange, the rupee opened at 84.72 and moved in a tight range and touched 84.71 against the greenback, registering a gain of just 4 paise over its previous close.