Rupee Strengthens Against Dollar on Domestic Equities

The Indian rupee strengthened against the US dollar on Friday morning, gaining 14 paise to trade at 95.85.

This increase is attributed to a positive trend in domestic equities and the rupee remaining above the psychological barrier of 96 per dollar.

However, persistent dollar demand from oil companies and elevated crude prices continue to weigh on the local unit.

Forex traders expect the Reserve Bank of India (RBI) to intervene to smooth out volatility in the currency market.