The Indian rupee opened marginally higher against the US dollar on October 30, amid retreat in the dollar and a plunge in US Treasury yields, although another surge in oil prices could still weigh on the currency.
The rupee opened higher by 4 paise at 95.21 per dollar, compared with Thursday’s close of 95.25.
According to Finrex, with the dollar Index down to 101.75 after touching a high of 102.50 yesterday, the rupee is set to open at 95.21 this morning with Brent oil rising to $ 113.41 for the January Delivery.
There could be some defence and Govt. related payments happening today which could take rupee down to 95.30-40 levels which could be used as an opportunity by exporters to sell with RBI ensuring rupee does not fall much. Importers to continue buying the dips, it added.
Asian currencies were trading mostly higher against the US dollar, with most regional currencies strengthening against the greenback. The Malaysian Ringgit emerged as the top gainer, appreciating 0.425 percent, followed by the Indonesian Rupiah, which rose 0.259 percent. The South Korean Won gained 0.218 percent, while the Singapore Dollar and Thai Baht advanced 0.141 percent and 0.134 percent, respectively.