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Rupee recovers slightly, rises to 84.06 against US dollar in early trade

The rupee showed a marginal recovery in early trade on Monday, gaining 1 paisa to reach 84.06 against the US dollar. This rise followed positive cues from domestic equity markets and a softer American currency. However, ongoing foreign fund outflows and rising crude oil prices posed challenges for the local currency.

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The rupee showed a recovery from its lower level and gained marginally by 1 paisa to 84.06 against the US dollar in early trade on Monday, tracking positive cues from domestic equity markets and a soft American currency, PTI reported.

However, sustained outflow of foreign funds and an upward momentum in crude oil prices weighed on the local unit, as per PTI.

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