Business · India Bureau
Rupee extends gains to third day, settles at 95.16 versus dollar
The Indian rupee continued its upward trajectory on Friday, appreciating 0.13 per cent to close at 95.16 against the US dollar. The currency's performance was underpinned by Reserve Bank of India interventions and reassuring remarks from Governor Sanjay Malhotra.
LSN India ·
The rupee's three-session winning streak reflects concerted efforts by India's central bank to stabilize the domestic currency amid broader market volatility. The RBI's forex operations, coupled with the Governor's supportive commentary, have provided a steady floor for the rupee in recent trading sessions.
While the rupee's appreciation indicates improving sentiment, gains remained measured as importer demand for dollars continued to offer resistance at higher levels. The interplay between RBI support and traditional dollar demand from India's import-dependent sectors has created a balanced trading environment for the currency pair.
The rupee's performance at 95.16 reflects the central bank's proactive stance in managing currency stability, a key objective amid global economic uncertainties. Analysts expect the RBI's continued engagement in the forex market will remain a key driver of rupee movement in coming sessions, with the currency's trajectory dependent on both domestic policy signals and external dollar strength.