Rupee Edges Higher at 95.51 Per Dollar Amid Tight Range
The Indian rupee opened marginally higher against the US dollar on August 28 at 95.51 per dollar, maintaining its steady importer demand and central bank intervention.
Market participants are waiting for the Federal Reserve chief's speech to gauge the interest-rate outlook, which is expected to influence currency trading.
The rupee has been trading in a narrow range of 95.40 to 95.60 with RBI protecting the upper end and importers bringing down the lower end due to oil importers' month-end demand and importers' buying dips since the rupee can't go below 95.40.
Asian currencies, however, traded mostly higher against the US dollar, with notable gains from the South Korean Won, Taiwan Dollar, Malaysian Ringgit, Singapore Dollar, Chinese Renminbi, and Japanese Yen.