Indian Rupee Remains Stable Amid Iran Ceasefire Hopes

The rupee in India is expected to open with minimal changes on Thursday as market participants balance geopolitical optimism with domestic hedging demands. The currency is projected to start the session in the 92.34-92.38 range against the United States dollar, following a settlement of 92.3725 on Wednesday. While hopes for a ceasefire in Iran have provided a tailwind for risk assets, persistent dollar buying from importers and firms managing overseas liabilities has kept the currency within a tight corridor.