The Indian rupee opened 25 paise higher on August 3, trading at 95.14 per US dollar, compared with Friday’s close of 95.39. The rise was helped by a fall in global crude prices and a supportive stance from the Reserve Bank.
Finrex analysts predicted the rupee would open at 95.18, with a trading range of 95.00 to 95.50. The forecast was based on Brent oil slipping to $84 a barrel after Trump’s decision to delay strikes on Iran, and the dollar index falling to 99.72.
Exporters are likely to take advantage of the intra‑day gains, selling the rupee when it is higher, while importers may buy the currency at lower levels to hedge future payments. This pattern is expected to continue through the trading day.
Across Asia, most currencies strengthened against the dollar. The yen rose 0.723 %, the won 0.669 %, and the rupiah 0.494 %. The peso, baht and Singapore dollar also gained 0.339 %, 0.303 % and 0.211 % respectively. The Taiwanese dollar edged up 0.105 % and the Malaysian ringgit 0.061 %, while the renminbi remained largely unchanged.
The dollar fell 0.6 % against the yen, reaching an intraday low of 156.50. The drop followed Japan’s confirmation of a joint yen‑buying intervention with the United States, keeping traders alert for further action.