MUMBAI: The Indian rupee ended higher on Thursday, halting a three-day losing streak, supported by dollar inflows related to the rebalancing of the MSCI equity indices.
The rupee ended at 83.3175 to the US dollar, compared with the close of 83.3450 in the previous session. The local currency had dipped to 83.4375 earlier in the session, following a further rise in US Treasury yields.
“The rupee was supported today, as there were some front-running of MSCI rebalancing flows, that are due tomorrow,” Anil Bhansali, head of treasury at Finrex Treasury Advisors said.
Currency traders, accustomed to regular Reserve Bank of India intervention, expect the central bank to curb volatility in the rupee.
The RBI will “enhance intervention toolkit” to curb undue rupee volatility against the US dollar in fiscal 2025, it said in its annual report on Thursday, without specifying what new tools it would use.
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