The rupee rose marginally by 1 paisa to 95.73 on Wednesday, assisted by RBI intervention, as heightened tensions in West Asia kept global markets on the edge.
A rise in global crude oil prices added pressure to the local unit while a decline in the dollar index and FII inflows provided support, forex traders said.
At the interbank foreign exchange, the rupee opened at 95.72 before slipping to 95.73, up 1 paisa from its previous close.
The rupee depreciated 13 paise to close at 95.74 against the US dollar on Tuesday.
“The rupee was very range-bound yesterday (Tuesday). With oil prices above USD 91, there were bids from oil companies… the key point is that the rupee is showing reasonable resilience despite the oil shock, largely because of suspected continued RBI intervention,” Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.
US President Donald Trump said on Tuesday that the US has no talks planned with Iran but insisted the Strait
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