The Indian rupee traded in a narrow and stable range today, closing marginally stronger at ₹83.21 per USD. The local currency maintained resilience amid global economic pressures, supported by steady dollar inflows and active RBI interventions to maintain market balance.
Forex traders reported improved sentiment due to stronger portfolio inflows into Indian equities and bonds. Additionally, global investors continue to see India as a stable emerging market, providing support to the rupee despite broader dollar strength.
The RBI’s measures to ensure adequate liquidity and prevent undue volatility have also played a crucial role. Economists expect the rupee to remain stable in the short term, barring sharp movements in global crude or major economic announcements from the US Federal Reserve.