The Rupee rebounds against US dollar after falling for eight consecutive trading sessions. The Indian currency gained 61 paise and traded at 96.25 in early market deals on Thursday. The Rupee rebounds against US dollar as positive market sentiment returned and buying pressure on the dollar eased.
Experts said the recovery was mainly driven by a drop in crude oil prices. Lower oil prices reduced import cost pressure on India and helped stabilize the currency. Traders also noted better performance in Asian currency markets, which supported the rupee’s movement.
Despite the recovery, analysts remain cautious. They expect continued volatility due to global uncertainty and strong dollar demand. Importers and exporters may still face fluctuations in the coming days.
The Reserve Bank of India is closely tracking currency movements to ensure stability in the forex market.
