Rupee Rises as RBI Moves to Curb Oil Refiner Dollar Buying
The rupee is set to open higher today as the RBI moves to reduce dollar buying by oil refiners. The central bank urged firms to use credit lines for payments.
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The currency in India is expected to open higher on Friday following reports that the central bank has intervened to reduce the impact of dollar purchases by state-run oil refiners. Market participants suggest the rupee will rise to a range of 92.94-92.98 against the United States dollar, up from Thursday's close of 93.1950.
