Rupee Surges Against US Dollar Amid Global Market Volatility

The Indian rupee continued its upward trend on Friday morning, rising 20 paise to 95.30 against the US dollar in early trade.

This growth is largely attributed to foreign capital inflows and a decline in global crude oil prices, which has been trending lower for some time now.

However, the strength of the US dollar also limited the rupee's gains, as it traded at 100.21 on the dollar index.

Aamir Makda, Commodity & Currency Analyst, Technical Research, Choice Broking, believes that 'the rupee is likely to continue to move back and forth in today's session, gain some strength against US dollar due to modest pullback in oil prices, while expectations of continued intervention from the Reserve Bank of India (RBI) keeps it supported.'