Indian rupee opens at ₹94.87 amid rising Brent crude prices
Business
The rupee opened a bit lower at ₹94.87 per US dollar on September 9, mainly because oil prices are still rising (Brent crude is around $99.25 a barrel).
According to Finrex, the rupee will hover between ₹94.50 and ₹95.25 today, with importers buying dollars when prices dip and exporters selling if it goes above ₹95.
RBI may intervene amid Asian gains
The Reserve Bank of India might jump in to keep the rupee from crossing that key ₹95 mark.
While the rupee dipped, most Asian currencies actually gained against the US dollar, like the Philippines peso and Japanese yen, except for Malaysia's ringgit, which was the only one to weaken this session.