Indian rupee opens stronger at 95.17 against US dollar
Business
The Indian rupee kicked off Monday a bit stronger at 95.17 against the US dollar, thanks to weaker US job data that made a Fed rate hike less likely.
The dollar index stayed flat near a six-week low, keeping things steady for now.
Oil at $84.45 pressures rupee
Rising global oil prices (now $84.45 a barrel) added some pressure, but support from oil companies and the Reserve Bank of India helped keep the rupee in check.
Trade advice was pretty clear: exporters should sell if rates hit around 95.40, while importers might want to buy if it dips near 95.
Meanwhile, Asian currencies were all over the place: Indonesia, Thailand, and the Philippines saw gains, but South Korea's won and Japan's yen slipped as markets reacted to ongoing global uncertainties.