Mumbai, Apr 17 (BNP): The Indian rupee moved higher in early trading on Friday, gaining 28 paise to reach 92.86 against the US dollar, supported by a more positive global outlook and firm domestic equities.
The currency opened the session at 92.93 in the interbank foreign exchange market and extended its gains shortly after, reflecting renewed investor confidence.
Traders pointed to easing geopolitical tensions as a key factor lifting sentiment. Hopes that recent developments in the Middle East could lead to broader stability have encouraged investors to return to emerging markets, including India.
Another supportive factor for the rupee has been fresh buying in Indian equities by foreign institutional investors. These inflows tend to boost demand for the local currency, contributing to its upward movement.
However, gains in the rupee were somewhat limited by the continued strength of the US dollar in global markets. A firm dollar often weighs on emerging market currencies, keeping traders cautious despite positive domestic cues.
Overall, the rupee’s early performance reflects a balance between improving risk appetite and external pressures, with investors closely watching global developments and capital flows for further direction.
