Rupee Steadies: INR Opens Slightly Higher at 87.78 per USD, Tracking Global Calm

The Indian rupee began Friday’s session on a positive note, opening at 87.7850 per dollar on the interbank foreign exchange, strengthening 0.06% from its prior close of 87.84. The move comes amid a softening greenback globally and continued foreign investor participation in domestic equities, as per data from the NSE currency derivatives segment.

Market analysts attributed the rupee’s stability to balanced trade flows, profit-taking in the U.S. dollar index, and steady macroeconomic data. The yield on the benchmark government securities remained broadly in check, suggesting stable domestic liquidity ahead of key fiscal announcements.

Traders are expected to watch for cues from upcoming U.S. GDP data, oil price movements, and further developments in FII activity that could set the rupee’s immediate direction.

Major Takeaways:

Opening rate: Rs 87.7850 per US dollar, up 0.06%.

Previous close: Rs 87.84 per dollar.

The outlook remains stable amid moderate foreign inflows.

Range for the day expected between Rs 87.70–87.90, according to NSE data.

Broader stability supported by easing crude prices and risk-positive market tone.

Sources: NSE Currency Derivatives Circular, BSE Market Data, RBI Reference Rate Statistics.