The rupee strengthened by 18 paise to 87.34 against the US dollar in early trading on Monday, aided by firm domestic equities, though external risks continue to weigh.
According to forex traders, the currency’s near-term movement will be guided by the August 27 tariff implementation and key US economic data ahead of the Federal Reserve’s September 17 policy meeting.
At the interbank forex market, the rupee opened at 87.38 and touched an early high of 87.34, marking a gain of 18 paise from its previous close.