Rupee Opens Higher Against Dollar Amid Robust Capital Inflows

The Indian rupee has opened higher against the US dollar on August 24, buoyed by robust capital inflows. The rupee is currently trading at 95.64 per dollar, up from Friday's close of 95.70.

Fintech firm Finrex expects exporters to sell around 95.75, a level that the RBI appears to be protecting. This is the final week for mobilisation of FCNR deposits, and oil companies continue to demand dollars amid elevated crude prices.

Asian currencies have traded mostly higher against the US dollar, with the Indonesian Rupiah leading gains at 0.305%. The Singapore Dollar was unchanged, while the Philippines Peso declined 0.092% against the dollar.