Rupee trades in narrow range against US dollar in early trade

The rupee showed volatility against the US dollar on Wednesday. It opened at 86.42, briefly reaching 86.25. Risk-off sentiment and rising crude oil prices impacted the rupee. Geopolitical uncertainties and dollar demand from oil importers added pressure. Analysts suggest the USDINR pair may move towards the 86.50-86.80 range. Sensex and Nifty saw gains, and FIIs were net buyers of equities.