Rupee strengthens as USD/INR declines amid RBI support
pre-market1 source ↓written by the desknot a recommendation
- fell
- ₹95.20
- after a sharp
- $91.60
- dipped 0.3
- 99.00
The Indian rupee firmed as USD/INR fell to ₹95.20, its lowest in two weeks. This movement was supported by expectations of RBI intervention in the forex market and a drop in crude oil prices, despite later rebounds. Foreign institutional investors recorded outflows of ₹10,386.52 cr for the fourth consecutive session.
Oil volatility remains crucial, with WTI recovering to $91.60 after a sharp decline. The US Dollar Index dipped 0.3% to 99.00, reflecting shifting market dynamics.
Not investment advice. For informational purposes only.