Indian rupee rises 37 paise to 95.38 per US dollar
The Indian rupee jumped 37 paise on Friday, opening at 95.38 per US dollar, thanks to falling crude oil prices after President Trump hinted at a possible deal with Iran.
Since India imports so much oil, cheaper prices take some pressure off the rupee and give it room to breathe.
Finrex expects rupee to trade 95.00-95.75
Finrex say the rupee is pretty sensitive to what happens near the Strait of Hormuz.
Recent big-dollar buys by oil companies and global investors made things tricky, but today it's expected to trade between 95.00 and 95.75, with importers and exporters nudging it around those levels.
South Korean won leads Asian gains
Across Asia, currencies had a mixed day: South Korea's won led gains (up 0.88%), while the Philippine peso and Malaysian ringgit also rose slightly.
But Indonesia's rupiah slipped by 0.25%, making it the region's biggest loser against the dollar Thursday.