Rupee ends ₹95.33 as state banks sell dollars for RBI
Business
The Indian rupee ended Wednesday at 95.33 against the dollar, up 10 paise.
This steady performance was thanks to state-run banks selling dollars for the Reserve Bank of India, which helped keep things calm even as oil prices tried to push the currency down.
Traders expect rupee to trade ₹95.00-₹95.50
A ceasefire extension until August 17 has eased global market worries, leading Brent crude prices to drop to about $85 a barrel.
With lower oil costs and RBI's support, traders are feeling upbeat and expect the rupee to stay strong on Thursday, likely trading between 95.00 and 95.50.