India, March 6 -- The rupee strengthened by 2 paise to 91.62 against the US dollar in early trade on Friday after the United States announced a 30-day waiver allowing Indian refiners to continue purchasing Russian oil, easing concerns over global energy supplies amid the ongoing conflict in West Asia.
Forex traders noted that weak domestic equity markets and continued foreign fund outflows limited the rupee's gains, despite a softer American currency.
Amid rising tensions involving the United States, Israel, and Iran, US authorities introduced the temporary waiver to ensure stable energy flows. Treasury Secretary Scott Bessent said the stop-gap measure would help reduce pressure caused by Iran's attempts to disrupt global energy supplies....