The Indian rupee traded within a narrow range against the US dollar despite rising global crude oil prices. Stable foreign exchange reserves and controlled capital outflows helped limit currency volatility.
Importers remained cautious as higher oil prices could increase India’s import bill if the trend continues. Exporters, however, benefited from the relatively stable currency movement.
Experts believe the rupee may remain range-bound unless geopolitical tensions escalate sharply or foreign investment flows weaken significantly.
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