Rupee gains 9 paise to 95.65 against US dollar during early trade

The rupee gained 9 paise to 95.65 against the US dollar in early trade on Friday, supported by the weakening of the American currency in the overseas markets.

Forex traders said for India, a softer dollar is being offset by another challenge elevated crude oil prices.

Meanwhile, RBI Governor Sanjay Malhotra has indicated that the central bank expects at least USD 80 billion of foreign currency inflows.

According to forex traders, while the RBI Governor's statement offered some reassurance, elevated oil prices, persistent geopolitical uncertainty, and a structurally reduced foreign presence continue to neutralise fresh dollar inflows.

At the interbank foreign exchange, the rupee opened at 95.69, then rose to 95.65, higher by 9 paise from its previous close.

On Thursday, the rupee pared initial gains and settled for the day down 1 paisa at 95.74 against the US dollar.

"Governor Sanjay Malhotra indicated that the central bank expects at least USD 80 billion of foreign currency inflo