Rupee Closes Nearly Unchanged At 74.88 Against Dollar

The rupee traded in a narrow range against the US dollar and closed nearly unchanged at 74.88 on Monday. It moved in a range of 13 paise, between 74.78 and 74.91, against the greenback, having started the four-hour session stronger at 74.87 compared to its previous close of 74.90. Analysts say weakness in the dollar overseas supported the rupee but volatility domestic equity markets put pressure on the currency.