Indian rupee opens at 95.71 with rates expected at 5.25%
The Indian rupee started Thursday at 95.71 against the US dollar, barely up from yesterday's close.
Investors are playing it safe ahead of the Reserve Bank of India's (RBI) big policy meeting wrapping up Friday.
Policy is expected to stay put at 5.25%, but a few are betting on a small bump.
Rupee pressured by outflows and oil
The rupee is feeling the heat from more than $3 billion in foreign money leaving India this month and global oil prices hovering around $96 a barrel, though a possible Lebanon-Israel ceasefire could help.
At home, the Reserve Bank of India might update its inflation and growth forecasts for FY27, thanks to ongoing uncertainty in West Asia.
Rupee suffers tough week globally
Recently, the rupee traded around 95.71 against the US dollar, showing it's having a tough week across global markets.