INR seen supported by softer greenback, but elevated oil prices limit upside
Mumbai, Oct. 30 -- The Indian rupee gained 7 paise to 95.19 against the US dollar in early trade on Friday supported by a softer greenback and declining US treasury yields, though climbing crude oil prices limited larger gains. At the interbank foreign exchange market, the rupee opened at 95.21, then gained ground and touched 95.19 against the US dollar, registering a rise of 7 paise over its previous close. Sustained inflows and an easing of the oil import burden would provide a stronger foundation for rupee appreciation. The immediate operating range for USDINR is 94.75-95.75. Indian shares are seen opening on a cautious note on Friday, even as information technology stocks may rise as disappointing tech earnings fueled a rotation out o...
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