Indian rupee opens stronger at 95.36 per US dollar
The Indian rupee kicked off Friday a bit stronger at 95.36 per US dollar, up from Thursday's close of 95.44 per US dollar.
This boost mostly came from falling crude oil prices (Brent is now around $86.70 a barrel), plus RBI's defense of the 95.45/$ level to keep the rupee steady near 95.45 per US dollar.
RBI intervenes to cap rupee gains
The RBI stepped in to prevent big swings, keeping the rupee stable but not letting it rise too much.
With the dollar index holding steady at 99.95, there wasn't much room for further gains.
Market advisors at Finrex say exporters should sell dollars near 95.45 per US dollar for quick deals, while importers might want to buy when the rate dips.
Asian currencies trade mixed
Elsewhere in Asia, currencies were all over the place: South Korea's won and Taiwan's dollar edged up slightly, while Thailand's baht and the Philippine peso slipped a bit.
Japan's yen made a tiny gain, and Indonesia's rupiah stayed flat against the US dollar.