Rupee rises 7 paise to 93.70 against US dollar as foreign inflows support sentiment
The Indian Rupee gained 7 paise against the US dollar, reaching 93.70 in early trade on Wednesday. This appreciation is driven by renewed foreign fund inflows, lower crude oil prices, and improved geopolitical sentiment.
Why it matters
Currency fluctuations impact India's import costs and inflation, making this a key indicator for the country's macroeconomic stability.
NEW DELHI: Rupee began Wednesday on a strong note, gaining 7 paise to 93.70 against the US dollar in early trade. The momentum is supported by renewed foreign fund inflows, softer crude oil prices and improving geopolitical sentiment.Rupee has emerged as one of Asia's best-performing currencies in FY27. Forex traders said the gradual return of foreign investors to Indian markets, following months of cautious participation and significant outflows, has helped support the rupee.In the interbank foreign exchange market, the rupee opened at around 93.71 before gaining further to touch 93.70, up 7 paise from its previous closing level on Monday.Domestic equity, currency and debt markets remained closed on Tuesday on account of 'Diwali Balipratipada'.
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