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Rupee Rises 2 Paise to Close at 94.49 Against U.S. Dollar
- On Friday, the currency gained 5 paise to 94.46 against the USD in early trade, supported by rising foreign inflows and increased risk appetite.
- Extending its gaining momentum, the exchange rate appreciated 22 paise on Thursday to close at 94.51 against the USD, marking a fifth straight session of gains.
- Domestic markets surged as the Sensex jumped 468.64 points in early trade, while India mobilized a record $127.23 billion through FCNR deposits to strengthen foreign-exchange liquidity.
- Escalating US-Iran tensions drove Brent crude futures up 0.40 per cent to $95.90 per barrel, while the dollar index increased 0.15 per cent on safe-haven demand.
- Forex Advisors MD Amit Pabari warned that despite the FCNR story, underlying fundamentals carry risk, with negative oil surprises potentially pushing USDINR toward 95.00.
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Rupee rises 2 paise to close at 94.49 against US dollar
The Indian rupee has risen by two paise, closing at 94.49 against the US dollar, buoyed by positive foreign investments and an increased appetite for risk. However, the rising prices of crude oil and ongoing US-Iran tensions may hinder further appreciation. With this, the rupee has marked six sessions of consecutive gains, prompting traders to keep an eye on US non-farm payroll data for upcoming market trends.
·India
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The Hindu Business LineReposted by 
Deccan Herald
Deccan HeraldRupee rises 5 paise to 94.46 against US dollar in early trade
Forex traders said the rupee is poised to gain strength, supported by strong underlying inflows and aggressive RBI intervention. However, higher crude oil prices and potential US-Iran tensions could limit further gains.
·Chennai, India
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Coverage Details
Total News Sources17
Leaning Left2Leaning Right4Center1Last UpdatedBias Distribution57% Right
Bias Distribution
- 57% of the sources lean Right
57% Right
L 29%
14%
R 57%
Factuality
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