Rupee Edges Higher as Brent Crude Reaches $95.57 Amid US-Iran Tensions

The Indian rupee opened slightly higher against the US dollar on September 2, despite concerns over rising oil prices and US Treasury yields. The rupee began trading at 94.92 per dollar, a marginal increase from Tuesday's close of 94.95. According to Finrex, the rupee was expected to open at 95.02 this morning.

The Reserve Bank of India (RBI) is closely monitoring the currency's movement as Brent crude prices rise to $95.57 per barrel and the dollar index climbs to 99.77 amid renewed risk aversion following fresh fighting between the US and Iran. Market participants will watch for the RBI's stance on the rupee, particularly if higher Brent prices prompt oil companies to step up dollar purchases.

Asian currencies traded mostly lower against the dollar, with the exception of the South Korean Won, which rose 0.27%. Exporters are advised to wait for appropriate levels around 95.25 to sell, while importers should look to buy on dips, according to Finrex.