Rupee dips slightly to 88.78 against US Dollar
The Indian Rupee dipped slightly on Thursday, trading at 88.78 against the US Dollar in early trade.
Even with this slip, Indian stock markets stayed upbeat, and overseas investors bought Indian shares on Wednesday, signaling steady confidence in the local market.
Key factors influencing rupee
A weaker Rupee affects everything from the price of imported gadgets to travel costs.
Key factors influencing the Rupee include concerns about US government spending and trade policies.
The Reserve Bank of India stepped in as the Rupee neared 88.80, trying to keep things stable.
Over the past month, the Rupee has lost 0.22%—showing how global news can impact your wallet back home.
Brent crude oil prices fall
Oil prices matter too: Brent crude just fell 0.5% to $65.91 a barrel, giving a little relief since cheaper oil helps keep inflation in check here in India.
Until there's more clarity on what's happening with US policies, expect the Rupee to keep moving in a tight range.