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Market snapshot
The Indian rupee opened the day at 88.70 against the US dollar in the interbank foreign exchange market. During the session it strengthened to an intra-day high of 88.56 before slipping to a low of 88.73.
What the numbers show
- The currency traded in a narrow range, reflecting modest intraday volatility.
- An intra-day high of 88.56 indicates a brief strengthening, while the low of 88.73 points to renewed dollar demand later in the session.
- Overall movement was limited, suggesting balanced flows between importers, exporters and foreign investors.
Why this matters
Even small moves in the rupee can affect import costs, corporate earnings and inflation expectations. Import-dependent sectors may feel the impact if the currency weakens, while exporters can benefit from a firmer rupee when it reverses.
Factors to watch
- Global dollar trends and US data releases
- Crude oil prices and other commodity swings
- Foreign institutional investor flows and domestic liquidity
- Policy signals from the central bank
Markets are likely to keep a close eye on external cues and domestic data for the next directional move in the rupee.