The Indian rupee opened unchanged at 95.36 per US dollar, a slight rise from Monday’s close of 95.34. Traders were cautious, weighing the possibility of a diplomatic settlement between the United States and Iran that could influence oil prices and market sentiment.
Finrex analysts predict the rupee will stay within a tight band of 95 to 95.50. Oil prices and the dollar index have remained stable, and market participants are holding their positions until the RBI announces its monetary policy tomorrow and the NFPR data releases this weekend. Exporters are expected to sell near 95.50 if the rate reaches that level, while importers will continue to buy during any dips.
Across Asia, most currencies moved lower against the dollar. The South Korean won led gains, rising 0.40%, followed by the Indonesian rupiah (+0.14%) and the Taiwanese dollar (+0.07%). The Japanese yen was the weakest, falling 0.23%, and the Singapore dollar, Thai baht, Chinese renminbi, Philippine peso, and Malaysian ringgit also edged lower.
The US dollar index, which measures the greenback’s strength against a basket of six currencies, hovered near the lowest levels seen in the past two months, standing at 99.99.
Market participants remain focused on the RBI’s upcoming policy decision, the outcome of US‑Iran talks, and global oil price movements. These factors will likely shape the rupee’s trajectory in the coming days.