The Indian rupee opened marginally stronger at around Rs. 95.44 per US dollar on Thursday, supported by softer crude oil prices and continued intervention by the Reserve Bank of India. The currency had settled around Rs. 95.41 in the previous session.
Lower oil prices are positive for the rupee because India imports a large portion of its crude requirements. However, strong dollar demand from importers and expectations surrounding US interest rates could limit the currency’s gains. Traders will closely monitor the RBI, crude prices and global dollar movements during the session.
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