Rupee Opens Stronger Against US Dollar As Investors Await US Rate Decision Next Week

The Indian rupee opened eight paise stronger against the US dollar, trading at 86.33 against Wednesday's close of 86.41.

This marks a flip of a trend that has seen the local currency face sustained pressure against the greenback, notably weakening for six consecutive sessions.

The rupee's overall weakness against the US dollar in the last week has come on the back of cautious market sentiment, and the focus ahead will be on next week's US interest rate decision, according to Jateen Trivedi of LKP Securities.

"Attention now shifts to next week’s US interest rate decision, which will be a key directional trigger. The rupee is expected to trade within a range of 85.80–86.70," he said.