New Delhi: The rupee appreciated 23 paise to 96.65 against the US dollar in early trade on Friday, October 9, supported by a softer greenback and suspected intervention by the Reserve Bank of India (RBI).
At the interbank foreign exchange market, the rupee opened at 96.74 and touched 96.65. On Thursday, it had depreciated 13 paise to close at 96.88.
Forex traders said sentiment improved as the dollar index eased to 102.03, down 0.10%, and Brent crude declined to $103.39 per barrel after US President Donald Trump said any attack on Iran would happen only after the midterm elections, citing productive US-Iran discussions.
Anil Kumar Bhansali, Head of Treasury at Finrex Treasury Advisors, said, “Sustained strength in DXY near 102.50, Brent above $104 and foreign outflows kept dollar demand elevated among oil companies and importers.”
Brent futures were down 1.09% at $103.14 per barrel. On the equity front, Sensex climbed 292 points to 71,876.10 and Nifty gained 84.60 points to 22,310.40 in early trade.
