Rupee Gains Against Dollar Amid Weakening US Currency

The Indian rupee experienced a slight gain against the US dollar in early trade on Friday, reaching a high of Rs 95.65 per dollar.

This positive trend is attributed to the weakening of the American currency in overseas markets.

However, elevated crude oil prices due to ongoing geo-political tensions and comments from U.S. Treasury Secretary Scott Bessent that Washington will impose 'the toughest sanctions in history' on Iran are capping the upside for the rupee.

The WTI crude oil futures have gained around 6% so far this week, with a second consecutive week of higher prices expected to end.