Rupee Gains 6 Paise to 89.92 Against US Dollar Amidst Thin Liquidity

• The rupee appreciated by 6 paise to 89.92 against the US dollar in early trade on Friday (January 2).
• Thin liquidity and everyday demand-supply imbalances contributed to the rupee's movement.
• The Reserve Bank of India (RBI) is reportedly protecting the 90 level, keeping the dollar/rupee pair in a narrow range.
• Despite positive domestic equities, sustained foreign fund outflows offset support for the rupee.
• Experts predict the rupee to remain range-bound between 89.30 and 90.20 in the near term, with risks mildly favoring the rupee below 90.

Why It Matters: Rupee strengthens slightly against the dollar, but RBI intervention and market dynamics keep it range-bound.