Rupee Gains Against Dollar on Weakening American Currency
The Indian rupee has gained some ground against the US dollar in early trade on Friday, reaching a high of Rs 95.65 per dollar.
This gain is largely due to the weakening of the American currency in overseas markets.
However, the upside for the rupee is being capped by elevated crude oil prices, which have risen around 6% so far this week.
The WTI crude oil futures are set to end higher for the second straight week amidst ongoing geo-political tensions.