The Indian Rupee opened 1.2% higher at 90.40 per US dollar, compared to its previous close of 91.5125. This sharp appreciation reflects strong foreign inflows, easing oil prices, and a softer US dollar index. Analysts expect short-term volatility but highlight positive momentum for India’s currency outlook.
The Indian Rupee (INR) made a strong start today, appreciating by 1.2% to 90.40 per US dollar against its previous close of 91.5125. This marks one of the sharpest intraday gains in recent sessions, signaling renewed investor confidence in India’s economic resilience.
Market experts attribute the rally to robust foreign portfolio inflows, easing global crude oil prices, and a weaker US dollar index. The appreciation strengthens India’s position in the Asian currency basket, boosting trade competitiveness and investor sentiment.
Key Highlights
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Opening Surge: INR opened at 90.40/USD, up 1.2% from 91.5125.
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Investor Confidence: Strong foreign inflows supported the rupee’s rally.
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Global Factors: Softer US dollar and easing oil prices added momentum.
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Market Outlook: Analysts expect short-term volatility but highlight positive momentum.
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Policy Impact: RBI’s liquidity and inflation stance remains crucial for sustainability.
This development underscores India’s growing appeal to global investors and positions the rupee favorably amid regional currencies.
Sources: Reuters, Bloomberg, Economic Times