The Indian rupee strengthened slightly on April 10, rising by 10 paise to trade at 92.41 against the US dollar in early market hours.
The currency had closed at 92.51 in the previous session and opened on a firmer note, supported by some positive domestic factors. Market participants said recent steps taken by the Reserve Bank of India (RBI), along with improved liquidity conditions, helped the rupee gain ground at the start of the day.
However, despite this early rise, experts remain cautious about the rupee’s outlook. Global factors continue to weigh on the currency, especially rising geopolitical tensions and uncertainty in international markets. These issues are making investors more careful and limiting strong movements in the rupee.
Another key factor affecting the rupee is crude oil prices. Since India imports a large portion of its oil needs, higher crude prices can increase demand for dollars, putting pressure on the rupee. This continues to remain a concern for traders.
In addition, recent regulatory measures by the RBI, including steps related to banks’ dollar positions, have influenced short-term movements in the currency.
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