Indian rupee gains against US dollar

The Indian rupee strengthened by 2 paise against the US dollar on Thursday. The currency finished the trading session at 95.26, according to provisional data. This movement follows a previous close of 95.28 recorded on Wednesday, marking a period of mild appreciation for the domestic unit during the day’s market activities.

The domestic currency started the day on a stronger note, supported by capital inflows from foreign institutional investors. These investors were net buyers during the previous session, purchasing securities worth ₹871.83 crore. However, the rupee gave up most of its early gains as the session progressed due to pressure from global crude oil prices.

Brent crude oil prices remained above the $114 a barrel mark throughout the day, influenced by ongoing tensions in West Asia. During the session, the currency reached a high of 95.17 and a low of 95.38. On the global front, the euro weakened against the US dollar ahead of the European Central Bank policy announcement. The currency market continues to monitor these international developments alongside domestic capital flows as the rupee navigates its current trading range against the US dollar.

Based on company and agency reports. For information only; not investment advice.