Indian rupee opens 95.13 vs US dollar, seen trading 94.80-95.20
Business
The Indian rupee kicked off Thursday at 95.13 against the US dollar, holding flat from yesterday.
Thanks to falling oil prices (now under $80 a barrel) and a weaker US dollar index, the rupee is expected to stick between 94.80 and 95.20 for now.
Strong flows and exporter sales are also keeping things balanced.
Banks buying US$, Asian currencies gain
State-run banks have been buying US dollars probably for the RBI as also importers and oil companies.
Exporters are being told to sell when rates are high, while importers should buy on dips.
Over in Asia, most regional currencies, like Indonesia's rupiah and South Korea's won, are gaining ground against the US dollar, showing some solid regional momentum right now.