Apr 17 (BNP): The Indian rupee rose by 25 paise to 92.95 against the US dollar in early trade on Friday, supported by improved domestic market sentiment and easing pressure on the currency.
The rupee opened stronger compared to its previous close of 93.20, aided by positive cues from equity markets and expectations of easing geopolitical tensions. Reports suggesting that the Reserve Bank of India may have advised state-run oil refiners to use a special credit line instead of dollar purchases also supported sentiment.
However, gains were limited due to continued strength in the US dollar in global markets.
In commodities, gold futures traded in a narrow range, while silver edged higher during the session before cooling off from intraday highs. Analysts said the overall trend remains cautiously positive, but needs stronger momentum for a sustained move.
Crude oil prices also slipped in global trade, with Brent and US WTI both declining amid easing geopolitical concerns and shifting supply outlook expectations.
Overall, markets remained driven by global cues, dollar movement, and geopolitical developments.
