The Indian Rupee edges higher after Reserve Bank of India steps in, though analysts still favor further depreciation.
The Indian Rupee (INR) rose marginally against the US Dollar (USD) early Friday, with the USD/INR pair dipping to near 96.30. The move followed reported intervention by the Reserve Bank of India to stabilize the currency ahead of the weekend.
Prior to the uptick, the INR had faced persistent downward pressure amid broader USD strength and domestic economic concerns. Analysts noted that while the RBI’s actions provided temporary relief, structural factors continue to weigh on the currency.
Markets remain cautious, with expectations that the INR’s downside risks persist despite the central bank’s efforts.