Indian rupee rises 63 paise to 95.73 per USD Friday
The Indian rupee got a boost on Friday, rising by 63 paise to finish at 95.73 versus the US dollar, marking its second day of gains.
This uptick was helped by cheaper crude oil, likely RBI support, and upbeat comments from US Secretary of State Marco Rubio about progress in Iran talks.
Sensex climbed nearly 232 points
Throughout the day, the rupee bounced between 95.30 and 95.68 before settling higher.
Analysts say oil prices and U.S.-Iran developments will steer its next moves.
Meanwhile, Indian stocks had a good day too: Sensex climbed by nearly 232 points and Nifty added about 65 points.
DSP's Sahil Kapoor backs rupee investments
Sahil Kapoor from DSP Mutual Fund thinks it's a good time for rupee-based investments, thanks to a weaker US dollar and falling US Treasury yields making India more attractive to global investors.