Rupee Edges Up Against US Dollar Amid Global Risk Sentiment

The Indian rupee started Tuesday's trading session on a flat note but eventually gained 3 paise to 95.34 against the US dollar, according to early trade data.

Market participants attributed this minor upward movement to the broad-based weakness in the US Dollar Index and improving global risk sentiment, which outweighed importer demand for dollars.

Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP, noted that lower oil prices and a softer US dollar also contributed to the rupee's slight gain.

However, with oil and dollar index remaining stable, the market is expected to remain range-bound between 95 and 95.50, Bhansali added.