Indian rupee rises 32 paise to ₹94.92 against US dollar
The Indian rupee got a boost on Thursday, rising 32 paise to open at 94.92 against the US dollar, thanks mostly to cheaper crude oil making imports less expensive.
Still, traders are cautious and say this good run could be short-lived because other Asian currencies are struggling and US bond yields remain elevated.
Experts expect rupee to trade 94.80-95.50
Experts expect the rupee to move between 94.80 and 95.50 for now, suggesting exporters hold off selling unless it drops below 94.80, while importers should buy on dips.
Across Asia, most currencies slipped against the US dollar, with a few exceptions including Malaysia's ringgit, Thailand's baht, and the Japanese yen, which posted small gains.
Meanwhile, the US dollar stayed steady globally as everyone waits for key US jobs data, so don't be surprised if things stay a bit unpredictable in the coming days.