CURRENCY CHECK: RUPEE HITS TWO-MONTH HIGH; OPENS 67 PAISE HIGHER AT 94.30 PER DOLLAR

The Indian rupee opened higher versus the US dollar on September 3,  after a massive $127 billion mobilisation through foreign-currency non-resident bank deposits far exceeded market expectations, bolstering the central bank's capacity to support the currency.

The rupee opened higher by 67 paise at 94.30 per dollar, compared with Wednesday’s close of 94.97.

According to Finrex, rupee will open at 94.38 this morning and remain in the range of 94.00 to 94.75 with upticks to be sold as RBI has got sufficient armour now to keep rupee well within a range.

Only when RBI buys dollar that we will get higher levels and we may see the buying coming in only at 93.50 or lower levels.

For the day sell all upticks while importers to buy dips for near term payments else they can hold their import positions for better levels.

Asian currencies were mostly stronger against the US dollar, with the Malaysian ringgit (+0.235%) and Thai baht (+0.118%) leading the gains. The Indonesian rupiah (-0.107%) was the only currency in the basket to weaken.

The dollar index, which measures the greenback against a basket of currencies, fell 0.05% to 99.54. The euro edged up 0.02% to $1.1589, while the yen strengthened 0.07% to 158.59 per dollar, following a 0.9% surge in the prior session.

2026-09-03T03:40:24Z