The Indian rupee experienced a marginal gain of 2 paise, reaching 83.25 against the US dollar (22.68 against the UAE dirham) in early trade.
This movement is attributed to a weakening US dollar influenced by a decline in US bond yields.
Influencing Factors:
While the rupee saw a slight improvement against the dollar, factors such as a subdued performance in domestic equity markets, continuous foreign fund outflows, and heightened volatility in crude oil prices due to geopolitical tensions exerted downward pressure on the Indian currency.
Early Trade Movement:
The interbank foreign exchange saw the rupee opening at 83.25 against the US dollar, reflecting a 2-paise increase compared to its previous close.
The currency market remains dynamic as it responds to various global and domestic variables.
