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Reliance Securities Report
The Indian rupee appreciated for the first time in four sessions against the U.S. dollar on Thursday, tracking an improved risk appetite in the region after crude oil prices retreated from multi-year highs.
The rupee ended at 74.78 to a dollar, compared with 74.98 in the previous session.
The unit had briefly appreciated to an intraday high of 74.71 on aggressive dollar sales by some foreign banks, who may have been unwinding their long positions on the U.S. dollar/ Indian rupee pair ahead of the U.S. jobs data and the outcome from India's Monetary Policy meeting today.
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