Rupee Gains Against Dollar Amid Stable Oil Prices

The Indian rupee opened with slight gains against the US dollar on September 23. The exchange rate was at 95.56 per dollar, up from Tuesday's close of 95.59. Finrex predicts that the rupee will remain within a certain range due to steady oil prices and a strong dollar index.

Asian currencies were mixed as the Philippine peso rose by 0.21%, followed closely by the Malaysian ringgit with a 0.21% gain. The Taiwan dollar strengthened by 0.12%, while the Indonesian rupiah declined by 0.21%. The dollar steadied near its strongest level in two months, fueled by prospects of interest rate hikes and easing oil prices.

The RBI is expected to protect the rupee from falling below 96, which could make imports more expensive. Exporters are advised to sell near 95.85-95 levels if available, while importers should buy at the day's low around 95.50.