Now Reading: Rupee gains 2 paise to 95.43 against US dollar in early trade
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Rupee gains 2 paise to 95.43 against US dollar in early trade
The rupee edged up 2 paise to 95.43 against the US dollar in early trade on Friday, helped by a weaker greenback overseas. The dollar index slipped 0.08 per cent as US…
The Story in Brief
The rupee edged up 2 paise to 95.43 against the US dollar in early trade on Friday, helped by a weaker greenback overseas. The dollar index slipped 0.08 per cent as US Treasury yields fell and inflation stayed below expectations.
However, forex traders said the Indian currency remains under pressure from foreign fund outflows and rising crude oil prices. Foreign portfolio investors sold Rs 510.69 crore in equities on Thursday. Brent crude rose 0.16 per cent to $87.21 a barrel as hopes of a West Asia deal faded. On Thursday, the rupee had closed 12 paise lower at 95.45.
The Indian Opinion
Two paise is not a recovery. The rupee's slight gain masks a familiar squeeze: FIIs pulling money out and oil climbing while West Asia talks stall. Some headlines paint this as stability, but the pressure is real. Watch whether Brent stays above $87 and FII selling continues next week, if both hold, 95.50 could break soon.
Source: deccanherald.com
This story was synthesised by AI from the source linked above.
