Rupee Surges on Strong Inflows and RBI Intervention

The Indian rupee has appreciated by 47 paise to 94.26 against the US dollar in early trade on Thursday, driven by higher-than-expected FCNR (B) deposits mobilisation.

This move reflects strong underlying inflows and aggressive RBI intervention, which have offset the negative impact of higher crude oil prices and global yields.

The rupee opened at 94.30 against the US dollar but gained ground to touch 94.26, marking a gain of 47 paise from its previous close on Wednesday.

On Wednesday, the rupee settled at 94.73, recording a gain of 22 paise.