Indian rupee gains 9 paise to 95.65 against US dollar
The Indian rupee got a small boost on Friday morning, rising nine paise to 95.65 against the US dollar.
This uptick came as the US dollar index dipped to its lowest since May, making it a bit easier for the rupee to gain ground.
Still, experts say it's not all smooth sailing; outside pressures are keeping things uncertain.
Oil $93.56 pressures rupee inflows $56.85B
High crude oil prices and ongoing tensions in the Middle East are putting pressure on India's currency.
Oil is now at $93.56 a barrel after conflicts disrupted major shipping routes, and that's making imports pricier for India.
On the bright side, Reserve Bank of India Governor Sanjay Malhotra shared that foreign currency inflows are looking strong this year, with around $56.85 billion already mobilized, giving the rupee some backup even as global challenges continue.