The Indian rupee opened higher against the US dollar on October 15, supported by a pullback in US Treasury yields after an initial spike following sticky inflation data, while traders continued to see limited chances of a Federal Reserve rate hike this month.
The rupee opened higher by 23 paise at 94.92 per dollar, compared with Wednesday’s close of 95.15.
According to finrex, the rupee is set to open at 95.14 this morning. Markets will await for Indian trade data today for the month of September.
With RBI keeping rupee within a range and not allowing any weakening, the exporters to sell the upticks taking advantage of the higher premium while importers need to buy the dips for near terms only as premiums for November are very high currently, it added.
Asian currencies traded mixed against the US dollar on Wednesday, with the South Korean won rising the most by 0.16 percent, followed by the Malaysian ringgit, which gained 0.08 percent, and the Indonesian rupiah, up 0.07 percent. The Philippine peso and Chinese renminbi edged up 0.02 percent each. On the other hand, the Japanese yen declined 0.10 percent, while the Taiwan dollar and Singapore dollar slipped 0.04 percent and 0.02 percent, respectively. The Thai baht also weakened by 0.05 percent against the greenback.