Summary:
Mumbai, Nov 29 (PTI) The rupee started on a choppy note on Monday as investors turned cautious tracking heavy selling in domestic equities and worries over a new variant of COVID-19.
At the interbank foreign exchange, the rupee opened higher by 5 paise at 74.84 against the greenback and later touched a high of 74.82.
However, the local unit pared gains in late morning deals amid high volatility.
The rupee was trading down by 9 paise at 74.98 at 1035hrs.
On Friday, the rupee had plunged by 37 paise or 0.50 per cent against the US dollar to close at a nearly month"s low of 74.89, as investors resorted to risk-off sentiment.
Investor concern resurfaced about lockdowns amid a rise in COVID cases in Europe and a new variant, detected in South Africa.