Indian rupee opens at 88.52 against US dollar
The rupee opened stronger at 88.52 against the US dollar on Thursday, up 13 paise from last session.
This small win comes after the RBI stepped in to steady the currency, which has been flirting with record lows lately.
A stronger rupee can help keep import costs and inflation
A stronger rupee can help keep import costs and inflation in check—something that affects everyone's wallet.
While the rupee is still down about 2.8% compared to last year, it's managed a slight uptick this month, partly because other Asian currencies like the yen and baht also gained ground.
Exporters should take short-term chances, says expert
Anil Kumar Bhansali from Finrex Treasury Advisors expects the rupee to move in the 88.40-88.90 range through November, with its path shaped by RBI moves and global trends.
Anil Kumar Bhansali from Finrex Treasury Advisors suggests exporters take short-term chances while importers buy when rates dip—hedging only if things get shakier.