Indian Rupee Rises on Dollar Slump, Softer Oil; RBI Intervention Boosts Sentiment

The Indian rupee is poised to strengthen, opening around 95.50-95.55 against the dollar, following the dollar's biggest slide in three months and a modest pullback in oil prices. The Reserve Bank of India has aggressively intervened, particularly around the 95.75 level, to prevent significant rupee depreciation, contributing to its 0.9% rise this week. The dollar's weakness stems from suspected yen intervention and concerns over the Fed's inflation commitment. A weaker global dollar and softer crude oil prices could potentially ease pressure on international gold prices and the USD/PKR exchange rate.

بحوالہ / Source: www.brecorder.com