Rupee Falls Against Dollar Amid Oil Demand and Foreign Outflows
The Indian rupee traded in a narrow range against the US dollar on Thursday, falling by 3 paise to 95.97 due to ongoing demand for dollars from state-run oil companies.
RBI-backed sales of dollars across spot and forward markets continued to cap losses, keeping the exchange rate below the 96.00 threshold.
Sustained foreign portfolio outflows and firm US yields also put pressure on the USD/INR pair.