Rupee Gains 9 Paise to 95.65 Against US Dollar in Early Trade

Rupee gains 9 paise to 95.65 against U.S. dollar in early trade

At the interbank foreign exchange, the rupee opened at 95.69, then rose to 95.65, higher by 9 paise from its previous close

Rupee continues to rally, opens 9 paise stronger against US dollar

On Friday morning, the rupee showed signs of strength against the US dollar. Despite the upward trend, high crude oil prices and ongoing geopolitical tensions are pressuring the currency. The Reserve Bank of India anticipates notable foreign currency inflows this year, though these have yet to result in significant rupee gains. Additionally, domestic equities began trading on a slightly weaker note.

Rupee gains 9 paise to 95.65 against US dollar in early trade

Forex traders said for India, a softer dollar is being offset by another challenge elevated crude oil prices.

Rupee opens 7 paise higher at 95.64 against US dollar

The Indian rupee opened at 95.64 against the USD, affected by high crude oil prices and dollar demand. The RBI's interventions limit volatility, though geopolitical tensions and reduced Russian crude supplies raise import costs, putting further pressure on the rupee.