Indian rupee opens at 95.08 per dollar ahead of Fed
The Indian rupee opened a bit stronger today at 95.08 per dollar, slightly up from yesterday.
This small win comes as global oil prices cool off for now, giving the rupee some breathing room.
But all eyes are really on the US Federal Reserve's meeting later today. Any changes to US interest rates could shake things up for currencies everywhere.
Jateen Trivedi: rupee pressured until 95.00
Even though oil prices spiked after a refinery attack in Saudi Arabia, steps from India's central bank (like a special dollar window for refiners) have helped keep things steady.
VP Research Analyst - Commodity and Currency, LKP Securities Jateen Trivedi points out that until the rupee drops below 95.00, it will likely stay under pressure, especially with everyone waiting to see what the Fed does next.
The next few days could be interesting for anyone watching currency moves!