Rupee appreciates 6 paise to Rs 84.35 against US dollar in early trade

Rupee appreciated 6 paise to 84.35 against the US dollar in morning trade on Monday, supported by a firm trend in domestic equities.Forex traders said factors like elevated Dollar Index levels, and a nearly 5 per cent surge in crude oil prices over the past week driven by the escalation of the Russia-Ukraine conflict pose significant headwinds for the USD/INR pair.At the interbank foreign exchange, the rupee opened at 84.38 and moved in a tight range and touched 84.35 against the greenback, registering a gain of 6 paise over its previous close.On Friday, the rupee recovered from its all-time low level and appreciated 9 paise to close at 84.41 against the US dollar.The Indian rupee opened with some gains as FPIs selling came down considerably and markets rose last Friday, Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP."RBI has also warned banks from taking long side positions in the USDINR pair for speculation purposes," Bhansali ...