Rupee to benefit from dollar retreat, plunging US yields; oil surge tempers impact

What happened: The rupee is expected to open flat to marginally higher against the dollar, after settling at 95.26 on Thursday, as a dollar retreat and falling US yields offset pressure from rising oil prices. Key numbers: Rupee settled at 95.26 per dollar. Why it matters: The dollar failed to gain from safe-haven demand as lower US yields weighed on the currency, and Asian currencies traded flat to modestly higher. Traders said the oil price jump will more than offset that relief, and the rupee's support will depend heavily on Reserve Bank of India intervention.

Dollar retreat and plunging US yields support rupee, though oil surge tempers gains.

Dollar retreat and plunging US yields support rupee, though oil surge tempers gains. — impact context not separately stored; see What changed.