Rupee ends week at 95.80; Bank of Baroda sees 94.5–96 range ahead
The rupee gained 19 paise to close at 95.80 to the dollar on Friday, helped by RBI dollar sales and sell-buy swaps, with Brent easing below $106 and Iran–US diplomacy talk offering support.
Bank of Baroda's research desk said on Saturday that foreign-currency inflows are padding RBI reserves rather than lifting the rupee, and expects the currency to trade in a 94.5–96 band in the near term.
The rupee is down about 28 per cent since January 2022; RBI deputy governor Poonam Gupta flagged the disconnect between India's strong real economy and weak market sentiment.
Originally reported by The Hindu BusinessLine. Article compiled by the Deccan Age desk.
