Indian rupee gains 5th straight day at 94.92 per dollar
Business
The Indian rupee kept its winning streak alive on Thursday, opening at 94.92 against the US dollar, compared with the previous close of 95.17.
This marks five straight days of gains, mainly because US Treasury yields dropped and traders are less worried about an immediate Federal Reserve rate hike.
US yields ease, RBI supports rupee
The shift in US Treasury yields has taken some pressure off emerging-market currencies like the rupee.
The Reserve Bank of India is also stepping in to keep things stable.