Rupee Rebounds Against Dollar Amid Softening Oil Prices

The Indian rupee started August 14 on a positive note against the US dollar. The currency opened at 95.36 per dollar, slightly higher than Thursday's close of 95.44.

This upward trend is attributed to a decline in oil prices. Brent crude prices have softened to around $86.70, providing some relief to the rupee after facing persistent pressure throughout the week.

The RBI continues to defend the 95.45 per dollar level, keeping the rupee within a narrow range. Finrex advises exporters to sell dollars at this rate for cash or near-term export receivables, while importers are advised to buy on dips in the currency value.