The Indian rupee gained 9 paise to 95.65 against the US dollar in early trade on Friday, supported by the weakening of the American currency in the overseas markets. Softer dollar is however being offset by elevated crude oil prices amid ongoing geo-political tensions. The WTI crude oil futures have gained around 6% so far this week and are set to end higher for the second straight week. INR opened at Rs 95.69 per dollar and hit a high of 95.65 so far during the day. Yesterday, the counter ended at 95.74. local equities opened little changed on Friday as stress in global markets showed little sign of abating and oil prices remained elevated near one-month highs following remarks from U.S. Treasury Secretary Scott Bessent that Washington will impose “the toughest sanctions in history” on Iran. Benchmark indexes Sensex and Nifty rose around 0.8 percent and 0.6 percent, respectively on Thursday after seven consecutive sessions of losses.
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