Rupee gains 6 paise, trades at ₹95.90 per US dollar
Business
The rupee picked up a bit of strength, trading at ₹95.90 per US dollar, up six paise from before.
This small win came thanks to a dip in global oil prices, which eased some pressure on the currency even as markets stayed cautious.
US yields rise, RBI steadies rupee
US bond yields just hit their highest since 2007, making investors think another US interest rate hike is coming soon.
Despite this global tension, the Reserve Bank of India (RBI) has been keeping a close watch and stepping in when needed to help steady the rupee.
As Amit Pabari, managing director at CR Forex Advisors, puts it, RBI's vigilance and strong domestic buffers are giving the rupee some much-needed support right now.