Rupee Opens Higher At ₹96.29 Against U.S. Dollar As Oil Prices Remain Elevated

The rupee began trading at ₹96.29 against the U.S. dollar on Friday, up 6 paise from its previous close of ₹96.35. The modest opening gain came despite pressure from elevated crude oil prices and weaker risk appetite across global markets.

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The currency’s movement remains closely linked to developments in international markets, with Brent crude oil price holding near $85 a barrel and the U.S. dollar remaining firm.

Asian Currencies Trade Mixed

Regional currencies moved in different directions against the U.S. dollar. The Indonesian rupiah was the strongest performer, rising 0.456%, followed by the South Korean won, which gained 0.218%. The Philippine peso also edged up 0.026%.

The Malaysian ringgit declined 0.23%, making it the weakest performer among the currencies listed. The Chinese renminbi fell 0.081%, while the Taiwan dollar slipped 0.074%. The Japanese yen and Thai baht eased 0.025% and 0.021%, respectively. The Singapore dollar was nearly unchanged, declining 0.008%.

Asian currencies had a mixed performance, reflecting the cautious tone in global markets, as investors eyed developments in the Middle East along with outlook on U.S. monetary policy.

Dollar Holds Firm Despite Weekly Decline

The U.S. dollar remained largely steady on Friday but was headed for a weekly decline after softer-than-expected U.S. inflation data reduced expectations of an imminent Federal Reserve rate hike.

The dollar’s performance was also influenced by rising geopolitical tensions in the Middle East. Escalating attacks in the region have increased uncertainty across financial markets and added to concerns over potential disruptions to energy supplies.

Crude Oil Prices Add To Rupee Pressure

The Brent crude oil price remained near $85 a barrel, keeping attention on the impact of higher energy costs on oil-importing economies such as India. An increase in crude prices can raise the country’s import bill and increase demand for dollars from importers.

For the rupee, the combination of elevated crude oil prices, a firm U.S. dollar and uncertain global risk sentiment remains important for near-term trading. The domestic currency’s opening at ₹96.29 per U.S. dollar therefore marked a limited recovery rather than a major shift in broader market pressures.