Mumbai, Aug 21: The Indian rupee ended Thursday’s trading session on a steady note, gaining 3 paise to close at ₹95.70 against the US dollar, as weakness in the American currency provided some support to the domestic unit.

The rupee opened at ₹95.57 and moved in a narrow range of ₹95.56 to ₹95.72 during the session before settling at ₹95.70. The modest gain reflected a balance between supportive global currency movements and continuing pressure from elevated crude oil prices.

A weaker dollar helped create room for the rupee to strengthen during the session. The dollar index had declined to its lowest level since late May following developments in the US Treasury market, reducing some of the pressure on emerging-market currencies.

However, crude oil prices remaining above the $90-per-barrel level continued to be a concern for the Indian currency. Higher oil prices can increase India’s import bill and raise demand for dollars from importers.

Market participants are also closely tracking the Reserve Bank of India’s presence in the foreign-exchange market. Recent interventions have helped contain sharp movements in the rupee and maintain orderly trading conditions.

The rupee’s latest performance comes against a backdrop of continued global economic and geopolitical uncertainty. Despite these external pressures, the currency has remained around the ₹95-96 range, reflecting relatively contained day-to-day volatility.

The marginal appreciation provides a positive signal for the domestic currency, even as markets continue to monitor crude oil prices, global dollar movements, foreign capital flows and broader international developments.

The rupee’s steady performance highlights the resilience of India’s foreign-exchange market, with supportive global cues and policy measures helping the currency navigate external pressures.