The Indian rupee traded relatively stable against the US dollar despite upward movement in global crude oil prices. Stable foreign exchange reserves and controlled capital outflows helped limit volatility in the currency market.
Importers remained cautious due to concerns that sustained oil price increases could widen India’s trade deficit. Exporters, however, benefited from currency stability and global demand recovery in certain sectors.
Market experts believe the rupee may continue trading within a controlled range unless geopolitical tensions escalate sharply.
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