Rupee up 17 paise to ₹95.56 after US Treasury buybacks
Business
The rupee got a boost on Thursday, rising by 17 paise to 95.56 against the US dollar.
This happened after the US Treasury said it would double its buybacks of long-term bonds, which made the dollar less attractive and helped strengthen the rupee.
Just a day earlier, it had closed at 95.73.
Dollar index drops, Brent crude rises
The dollar index dropped to its lowest level since late May as hopes for more US rate hikes faded, but high global oil prices limited how much the rupee could gain.
Brent crude ticked up to $91.91 per barrel, making imports pricier for India.