Indian Rupee Opens Stronger Against US Dollar Amid Global Market Cues

The Indian rupee began trading stronger on Friday, opening at 90.2850 per US dollar, marking a 0.08% gain from Thursday’s close of 90.3550. The move comes as global markets remain cautious, with investors closely tracking the Reserve Bank of India’s (RBI) monetary policy decision expected later in the day.

Currency traders attributed the rupee’s resilience to softening crude oil prices, which reduce India’s import bill, and steady foreign portfolio inflows into equities and debt markets. However, the strength of the US dollar globally continues to cap significant gains for the rupee.

Market participants expect the rupee to trade within a narrow range until clarity emerges from the RBI’s policy stance, with volatility likely if global risk sentiment shifts.

Key Highlights

• Rupee opens at 90.2850/USD, up 0.08% from previous close of 90.3550.
• Support factors: Softer crude oil prices, foreign inflows.
• Global headwinds: Strong US dollar limits upside.
• RBI policy decision awaited, likely to influence short-term currency movement.
• Trading outlook: Narrow range expected until policy clarity.

Sources: Reuters, Business Standard, Mint, Economic Times