Rupee Strengthens Against Dollar as Equity Markets Soar

The Indian rupee strengthened against the US dollar in early trade on Thursday, boosted by positive momentum in domestic equity markets and foreign capital inflows.

According to data from the interbank foreign exchange market, the rupee opened at 95.59 and later rose to 95.63 against the greenback, marking a gain of 13 paise from its previous close.

The rupee's gains were capped by a strong dollar index, which rose 0.06% to 101.79, following the US Federal Reserve's decision to keep interest rates unchanged.

However, crude oil prices, which have been a major concern for India's economy, declined 1.26% to $89.60 per barrel, as Brent futures reclaimed the $90-per-barrel level amid renewed fear of disruptions in global energy supplies.