Rupee Gains Against Dollar Amid Weaker Greenback, Falling Crude Prices

• The Indian rupee strengthened by 26 paise to 89.92 against the US dollar in early trade.
• This gain was driven by a softer US dollar and a significant drop in global crude oil prices, with Brent crude falling to $60/barrel.
• Exporters sold dollars at higher levels, while importers absorbed supply, balancing spot market flows.
• Market participants remain cautious due to a broader downward bias in internal flows and mixed domestic cues.
• Other Asian currencies declined as investors awaited crucial US economic data influencing Federal Reserve policy.

Why It Matters: Rupee strengthened due to a weaker dollar and falling crude, but market caution persists amid mixed signals.