Overview
- The rupee rose 31 paise to close at 89.87 against the US dollar on January 7.
- The currency opened at 90.20 and traded between 89.75 and 90.23 before settling stronger.
- Market participants cited RBI selling dollars around 90.23, indicating efforts to curb one-sided moves.
- Brent crude slipped about 0.99% to USD 60.10 per barrel as the dollar index edged up to 98.65.
- Domestic equities fell and foreign investors were net sellers, with analysts flagging a likely January range near 89.50–90.50.