India, July 2 -- The rupee strengthened by 26 paise to 94.90 against the US dollar in early trading on Thursday, supported by a decline in crude oil prices.
According to forex traders, the local currency opened on a firm footing as crude oil prices retreated to levels seen before the West Asia conflict. They also noted that global risk sentiment has improved significantly from the heightened uncertainty witnessed a few weeks ago.
Meanwhile, foreign investors invested nearly USD 5.3 billion in Indian bond markets during June, making it the first month of net inflows after three straight months of outflows, further lending support to the rupee.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....