Indian rupee opens 95.64 per US dollar, up 5 paise
The Indian rupee kicked off Monday a bit stronger, opening at 95.64 per US dollar, up five paise from Friday's close.
This boost comes from solid capital inflows, but traders are keeping an eye on oil prices (still hovering near $94 a barrel) and possible RBI moves to steady the exchange rate.
Finrex: exporters likely selling around 95.75
Finrex says exporters are likely selling dollars around 95.75, where the RBI appears to be protecting, while importers should grab dollars when prices dip because oil companies are driving up demand.
Across Asia, most currencies got a lift against the dollar, with Indonesia's rupiah leading the pack and South Korea's won, Taiwan's dollar, and Thailand's baht not far behind.
The Chinese renminbi, Japanese yen, and Malaysian ringgit also edged higher; the Singapore Dollar was unchanged, while the Philippines Peso declined 0.092% against the dollar.
Globally, the US dollar is holding near multi-month lows as everyone waits for policy speeches this week in the US and Japan and possible new Iran sanctions.