Rupee rises amid RBI moves to 95.72 per dollar
The rupee kicked off Wednesday on a positive note, climbing for the third day in a row to 95.72 against the US dollar, up 13 paise from yesterday's close.
Traders say recent RBI moves are helping keep things steady, but traders are keeping an eye out since rising oil prices and possible US interest rate hikes could make gains tougher.
Brent crude jumps 4% to $87.55
Brent crude just jumped over 4% to $87.55 per barrel, which isn't great news for India since we import so much oil.
Meanwhile, global markets are sending mixed signals: Indian stocks started strong today, but some Asian markets like South Korea's took a hit due to tech sector troubles.
All eyes are now on the upcoming US Fed meeting: whatever they decide about interest rates could impact both inflation and how strong the rupee stays against the US dollar.