India, Oct. 8 -- The rupee edged up 10 paise to Rs 96.65 against the US dollar in early trade on Thursday, supported by likely intervention from the Reserve Bank of India.
However, the domestic currency remained under pressure amid persistent macroeconomic headwinds, including a strong US dollar, with the DXY hovering near multi-month highs, and elevated Brent crude prices near $102 a barrel.
Continued foreign fund outflows and a sharp decline in India's forex reserves have further weighed on sentiment. Forex reserves have fallen by around $50 billion in just three weeks from their September peak of nearly $786 billion.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....