India, Oct. 30 -- The Indian rupee appreciated 7 paise to 95.19 against the US dollar in early trade on Friday, supported by a weaker dollar and declining US Treasury yields. However, rising crude oil prices capped further gains.
At the interbank foreign exchange market, the rupee opened at 95.21 and strengthened to 95.19 against the US dollar, compared with its previous closing level.
Forex traders said sustained foreign fund inflows and a reduction in the oil import burden could provide stronger support for the domestic currency. The immediate trading range for USD/INR is pegged at 94.75–95.75.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....