The rupee appreciated 39 paise to 94.89 against the US dollar in early trade, buoyed by lower crude oil prices and optimism over US-Iran talks. Investors are now awaiting the RBI's monetary policy decision for fresh cues on interest rates and inflation.
The Reserve Bank of India's Monetary Policy Committee is widely expected to keep the repo rate unchanged at 5.25 per cent while retaining its neutral stance. Markets will closely watch Governor Sanjay Malhotra's guidance on inflation, growth, liquidity and future policy direction.
The rupee weakened by 7 paise to close at 95.83 against the US dollar amid US-Iran tensions, elevated crude oil prices and safe-haven demand. Investors are closely watching the RBI's monetary policy decision, with inflation, growth and currency stability in focus