Rupee Opens Stronger at 91.76 Against Dollar, Gains 0.2%

India’s currency markets began the day on a positive note, with the rupee opening at 91.76 per dollar, up 0.2% from the previous close of 91.96. The modest appreciation comes amid expectations of continued Reserve Bank of India (RBI) support and favorable capital inflows.

Market participants suggest that the rupee’s resilience is being shaped by a combination of global and domestic factors, including softer dollar trends, stable crude oil prices, and investor confidence in India’s fiscal outlook.

Key Highlights:

• Opening Level: Rupee at 91.76 per dollar, stronger by 0.2%.
• Previous Close: 91.96 per dollar.
• Drivers: Softer global dollar, steady foreign inflows, and possible RBI intervention.
• Market Sentiment: Traders remain cautious but optimistic about near-term stability.
• Broader Impact: A stronger rupee may ease import costs and support inflation management.

The rupee’s early strength underscores India’s proactive currency management and investor confidence, though analysts caution that global volatility could still test resilience in the coming sessions.

Sources: Reuters; Economic Times; Business Standard