Rupee surges 52 points to close at 93.89 against US dollar
The domestic unit closed the session at 93.89 (provisional), registering a gain of 52 paise over its previous close
The Indian rupee has surged 52 points to close at 93.89 against the US dollar on Friday, following a softer US dollar and declining crude oil prices. Forex traders attributed the gain to a surge in domestic markets and concerns over a potential slowdown in AI spending. The rupee opened at 94.50 and reached an intraday high of 93.82 and a low of 94.50, before closing at 93.89, marking a gain of 52 paise over its previous close.
Analysts expect the rupee to maintain a positive bias due to strength in domestic markets and rising FII inflows, although tensions between Ukraine and Russia and attacks in the Middle East may limit sharp upside.
Brief written by urgent.news from Hindu BusinessLine's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
