Indian rupee opens at 95.57 per dollar, crude above $91
Business
The Indian rupee opened a bit higher at 95.57 per US dollar on Thursday, helped by a weaker dollar after the US Treasury took steps to calm bond markets.
But with crude oil prices remaining above $91 per barrel, the rupee isn't out of the woods yet.
RBI stepped in, may act again
The Reserve Bank of India jumped in to steady the currency market and might step in again if things get bumpy.
Finrex expects exporters to sell near 95.75, while importers are likely to buy on dips.
Meanwhile, other Asian currencies like the Malaysian ringgit and Philippine peso saw small gains against the US dollar, but trends were mixed across the region.