Rupee Gains 3 Paise on Broad-Based Dollar Weakness

The Indian rupee opened flat on August 4 and gained 3 paise to 95.34 against the US dollar in early trade, supported by a broad-based weakness in the US Dollar Index amid improving global risk sentiment.

The rupee had closed at 95.47 against the American currency on Monday (August 3), and experts predict it may remain within the range of 95 to 95.50 due to stable oil prices and dollar index.

Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP, said the Reserve Bank of India's (RBI) presence in the foreign exchange market helped smooth volatility and reinforce positive sentiment.