The Indian rupee opened with no change on June 4, pressured by equity outflows and soft Asian cues, while expectation around steps to support the currency may offer relief.
Indian rupee opened flat at 95.71 per dollar on Thursday against Wednesday’s close of 95.71.
Asian currencies traded mixed in early trade on Thursday. The South Korean Won emerged as the top performer, rising 0.386%, followed by the Japanese Yen (+0.094%), Thai Baht (+0.086%), Singapore Dollar (+0.023%), and Philippine Peso (+0.002%), reflecting modest gains against the US dollar.
On the downside, the Indonesian Rupiah was the weakest currency in the region, declining 0.712%. Meanwhile, the Chinese Renminbi (-0.221%), Taiwan Dollar (-0.118%), and Malaysian Ringgit (-0.013%) traded with a negative bias.
The U.S. dollar index, which measures the greenback’s strength against a basket of six currencies, held steady at 99.46 after a three-day rally which took the currency to its strongest level since April 7.
