Image Source: BFSI News
The Indian Rupee ended at 89.9750 per US dollar, up 0.24% from its previous close. Gains were supported by foreign inflows, easing oil prices, and stronger equities. Analysts expect the rupee to remain range-bound, with global economic data and Fed policy cues shaping near-term movement.
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The Indian Rupee closed higher on Thursday, provisionally ending at 89.9750 per US dollar, marking a 0.24% gain from the previous close of 90.1900. The move reflects improved investor sentiment and supportive flows amid global currency market volatility.
Key Highlights
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Closing level: The rupee settled at 89.9750/USD, showing resilience against the greenback.
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Daily gain: The currency appreciated by 0.24%, reversing some of the weakness seen earlier this week.
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Market drivers: Traders cited steady foreign inflows, easing crude oil prices, and stronger equity market performance as key factors supporting the rupee.
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Global context: The US dollar index remained firm, but emerging market currencies, including the rupee, benefited from risk-on sentiment.
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Outlook: Analysts suggest the rupee may continue to trade in a narrow range, with external factors such as US economic data, Federal Reserve policy cues, and global commodity trends influencing near-term direction.
The rupee’s modest appreciation underscores India’s currency market stability, even as global uncertainties persist.
Sources: Reuters FX Markets, Bloomberg Currency Watch, Economic Times Markets
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