Rupee rises 24 paise to close at 95.46 against US dollar
Firm domestic equities, a weaker dollar and a fall in crude oil prices lift rupee
The Indian rupee has experienced a 24-paise rise, closing at 95.46 against the US dollar on Tuesday. This gain was attributed to positive domestic market performance, a weaker greenback, and a fall in crude oil prices. Forex traders noted that the overall weakness in the US dollar, due to declining odds of a rate hike, may contribute to the rupee's lower levels.
The USD/INR pair remained within a narrow range of 95.50–96.00, with oil prices and the Reserve Bank of India's intervention expected to be the primary near-term drivers.
Brief written by urgent.news from Hindu BusinessLine's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
