Indian rupee rises 13 paise to 95.65 against U.S. dollar in early trade

The Indian rupee appreciated by 13 paise to open at 95.65 against the U.S. dollar in early interbank trade, supported by a pullback in crude oil prices.

Forex traders noted that soft crude prices and positive domestic equity market sentiment helped boost the currency, although strong foreign institutional outflows capped gains.

Kotak Securities research head Anindya Banerjee stated that the Reserve Bank is expected to intervene heavily if the pair approaches the upper cap of 96.30–96.50.