The Indian rupee is poised to open stronger on Thursday, bucking the broader weakness in Asia. According to reports, the rupee is expected to open in the 94.25-94.30 range, a firmer stance compared to Wednesday's settlement of 94.6650. This anticipated rally is largely attributed to the recent decline in oil prices, with Brent crude sliding below levels seen before the Iran war. Additionally, intervention by the Reserve Bank of India (RBI) is believed to be supporting the currency. The dynamics of falling oil prices and RBI intervention are seen as key factors contributing to the rupee's expected firmer opening.
Rupee Expected to Rally at Open as Oil Slides
