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Forex

Rupee Hits Fresh High Amid Crude Price Dip and Dollar Weakness

Guavy AI Editorial Team
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USD
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The Indian rupee started the week on a positive note, gaining 31 paise to 95.12 against the US dollar in early trade. The appreciation was driven by crude oil prices and a softer dollar.

Foreign institutional inflows, an increase in India's forex reserves, and support from the Reserve Bank of India (RBI) further strengthened the local currency, according to forex traders.

The rupee opened at 95.15 against the greenback before rising to 95.12, a gain of 31 paise from its previous close. This marks the fifth consecutive day of gains for the rupee, which closed at 95.43 against the US dollar on Friday.

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