Forex
Rupee Steadies at 95.67 Amid Volatile Oil Prices
The Indian rupee rose by nine paise to settle at 95.67 against the U.S. dollar on July 30, marking its fifth consecutive day of stability.
The rupee's gain was attributed to positive domestic equity markets and inflows of foreign capital, as well as a softening dollar.
However, the rupee's upward move was limited by volatile crude oil prices, which spiked due to fresh escalations in the conflict between the U.S. and Iran in West Asia.
Anuj Choudhary, Research Analyst at Mirae Asset ShareKhan, noted that traders may take cues from upcoming data releases, including advance GDP and core PCE price index numbers.