Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities said, “Rupee traded with a positive bias near 95.35, gaining around 0.12%, as the US Dollar Index eased to around 100.60 and crude oil prices remained 5–6% lower, providing relief to the domestic currency. Softer crude prices have reduced concerns over India’s import bill, while the weaker dollar has supported emerging market currencies, including the rupee. Going forward, the rupee will continue to take direction from crude oil prices, the US Dollar Index, and FII flows.”
