The Indian rupee closed slightly higher on Thursday, supported by a decline in global crude oil prices and renewed foreign portfolio inflows.
The currency’s modest gain reflects easing pressure on India’s current account, as lower energy import costs help offset broader dollar strength.
Brent crude fell during the session, reducing the immediate cost burden for India, the world’s largest oil importer.
The drop in energy prices has been a key driver of rupee stability in recent days, allowing the Reserve Bank of India to manage volatility with less direct intervention.
This marks a continued recovery for the rupee, which appreciated 16 paise to 94.39 against the dollar on Wednesday and 11 paise to 94.65 the day before.
The cumulative move suggests that market sentiment is stabilizing as foreign investors return to Indian equities and debt markets.