Currency Check: Rupee opens higher ahead of RBI policy; most asian currencies advance — TradingView News
The Indian rupee opened marginally higher on June 5, ahead of central bank’s policy outcome, due shortly, including a potential rate hike and steps to attract dollar inflows.
Indian rupee opened higher at 95.72 per dollar on Friday against Thursday’s close of 95.79.
According to Finrex, rupee is expected to open almost near to 95.70 and remain with a range of 95.25 to 96 for the day with an opportunity for exporters to sell dollar at > 95.80 and importers to buy the dips.
Today RBI may keep rates constant but may announce other policy moves to keep a check on the fall in rupee, it added.
Asian currencies traded on a mixed note against the US dollar, with most regional units weakening amid broad dollar strength. The South Korean Won emerged as the worst performer, declining 0.463%, closely followed by the Indonesian Rupiah, which fell 0.454%.
Among other major currencies, the Malaysian Ringgit lost 0.328%, while the Thai Baht, Taiwan Dollar, and Singapore Dollar slipped 0.190%, 0.111%, and 0.070%, respectively.
On the other hand, a few currencies bucked the trend. The Philippine Peso was the top gainer in the region, rising 0.109%, followed by the Chinese Renminbi and the Japanese Yen, which advanced 0.059% and 0.056%, respectively.
The U.S. dollar remained firm, supported by safe-haven demand. The dollar index, which tracks the greenback against a basket of major currencies, was little changed at 99.434 and is on course for a weekly gain of around 0.5 percent.
