Indian rupee gains 17 paise to 95.56 vs dollar in early Thursday trade
AI Market Summary
USD/INR eased as the US Treasury's decision to double long-dated bond buybacks pushed yields lower and reduced the dollar's carry advantage, reinforced by softer expectations for additional Fed tightening. The weaker dollar provided near-term support to the rupee, though elevated Brent prices above $90 remain a counterweight via India's import bill. Indian equities opened higher alongside the currency move.
Impact level
● Medium
Affected assets
NCFXUSD2INR/USDT-0.12%
AI Insight · NCFXUSD2INR/USDTAI Insight
● Neutral
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The Indian rupee strengthened 17 paise to 95.56 against the U.S. dollar in early trade on Thursday as the greenback weakened after the U.S. Treasury said it would double buybacks of longer-dated Treasury bonds to USD 4 billion. The dollar also came under pressure after the Federal Reserve’s July meeting minutes showed markets had scaled back expectations of further policy tightening. In the interbank market, the rupee opened at 95.57 and then moved up to 95.56.
