Indian rupee opens at ₹94.79 against US dollar amid volatility
Business
The Indian rupee opened a little stronger at 94.79 against the US dollar on Friday, clawing back some ground after a sharp drop the day before.
This small recovery comes as global factors like spiking crude oil prices, investor nerves, and shifting money flows keep shaking up currency values.
Jio Platforms IPO boosts rupee
Oil prices have shot up to nearly $115 a barrel after supply worries from Houthi attacks in Saudi Arabia, making imports pricier for India and pushing up demand for dollars.
Even with market jitters, the rupee got a boost from the Jio Platforms IPO and hopes of a US trade deal, giving it some much-needed support despite all the global uncertainty.