<p>Mumbai: The rupee traded in a narrow range and edged higher by 10 paise to 87.65 against the US dollar in early trade on Tuesday, amid a positive trend in domestic equities.</p><p>Forex traders said the rupee is trading in a tight range and the overall bias is expected to be negative amid uncertainty over the trade tariffs issue between India and the US.</p><p>Moreover, investors are in a wait-and-watch mode ahead of the US CPI inflation data and are also awaiting cues from the US-Russia talks on August 15.</p>.Markets trade higher in early trade on buying in IT stocks, firm trend in Asian peers. <p>At the interbank foreign exchange market, the rupee opened at 87.70 against the US dollar, then touched 87.65, registering a gain of 10 paise over its previous close.</p><p>On Monday, the rupee settled for the day lower by 17 paise at 87.75 against the US dollar.</p><p>"For now, the rupee remains under depreciation pressure, with resistance seen in the 87.80–87.90 range. Support is holding firm at 87.50. A clear break on either side could decide whether the currency stabilises or slides further in the days ahead," CR Forex Advisors MD Amit Pabari said.</p><p>Meanwhile, Brent crude prices rose 0.33 per cent to $66.85 per barrel in futures trade. The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.03 per cent to 98.49.</p><p>On the domestic equity market front, Sensex climbed 66.28 points to 80,670.36 in early trade, while the Nifty was up 42.85 points to 24,627.90.</p><p>Foreign Institutional Investors offloaded equities worth Rs 1,202.65 crore on Monday, according to exchange data.</p>
<p>Mumbai: The rupee traded in a narrow range and edged higher by 10 paise to 87.65 against the US dollar in early trade on Tuesday, amid a positive trend in domestic equities.</p><p>Forex traders said the rupee is trading in a tight range and the overall bias is expected to be negative amid uncertainty over the trade tariffs issue between India and the US.</p><p>Moreover, investors are in a wait-and-watch mode ahead of the US CPI inflation data and are also awaiting cues from the US-Russia talks on August 15.</p>.Markets trade higher in early trade on buying in IT stocks, firm trend in Asian peers. <p>At the interbank foreign exchange market, the rupee opened at 87.70 against the US dollar, then touched 87.65, registering a gain of 10 paise over its previous close.</p><p>On Monday, the rupee settled for the day lower by 17 paise at 87.75 against the US dollar.</p><p>"For now, the rupee remains under depreciation pressure, with resistance seen in the 87.80–87.90 range. Support is holding firm at 87.50. A clear break on either side could decide whether the currency stabilises or slides further in the days ahead," CR Forex Advisors MD Amit Pabari said.</p><p>Meanwhile, Brent crude prices rose 0.33 per cent to $66.85 per barrel in futures trade. The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.03 per cent to 98.49.</p><p>On the domestic equity market front, Sensex climbed 66.28 points to 80,670.36 in early trade, while the Nifty was up 42.85 points to 24,627.90.</p><p>Foreign Institutional Investors offloaded equities worth Rs 1,202.65 crore on Monday, according to exchange data.</p>