The Indian rupee appreciated by 5 paise to 83.54 against the US dollar in early trading, driven by positive sentiments in the domestic equity market. However, forex traders are cautious as they await key economic data, including the US May CPI print and the Fed rate decision, along with India’s Consumer Price Index. Despite the strength of the US dollar and elevated crude oil prices, the rupee remained stable, supported by factors such as falling fiscal deficits and reduced political uncertainties. The Reserve Bank of India’s readiness to intervene also contributed to the rupee’s resilience.
Rupee Gains Against Dollar Amid Positive Equity Market Sentiment
![](https://affairsace-media.s3.ap-south-1.amazonaws.com/2024/06/12172602/1715136713-0546-ezgif.com-avif-to-jpg-converter-2.jpg)