2026-05-29 12:09:19 pm | Source: Accord Fintech
Rupee strengthens against US dollar in early trade on Friday
The Indian rupee strengthened against the US dollar in early trade on Friday, after reports suggested that the United States and Iran have reached a tentative agreement to extend their ceasefire for another 60 days and continue negotiations toward a broader Middle East peace framework. Furthermore, a steady US dollar, falling crude oil prices, and aggressive currency interventions by the Reserve Bank of India (RBI) are supporting the rupee’s sentiment. However, gains were limited by data showing that Foreign institutional investors (FIIs) offloaded equities worth Rs 1,042.70 crore on a net basis on Wednesday. Forex markets were closed on Thursday on account of Eid-ul-Azha.
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