Ahead of RBI policy, the Indian rupee opens 6 paise higher and beats weak Asian currencies.

Despite weakening in other Asian currencies, the Indian rupee began 6 paise higher today, September 30, ahead of the Reserve Bank of India's (RBI) monetary policy announcement. After closing at 88.7612, the local currency opened at 88.6975 versus the US dollar. According to Bloomberg data, Asian currencies are still under pressure in early trading, with the South Korean Won down 0.18 percent, the Thai Baht down 0.15 percent, the Indonesian Rupiah and Singapore Dollar down 0.08 percent each, and the Chinese Renminbi and Japanese Yen down 0.04 percent. In addition, the market is still wary of the RBI's Monetary Policy Committee's decision on October 1. According to a Moneycontrol survey of fund managers, treasury executives, and economists, the Reserve Bank of India's monetary policy committee (MPC) is probably going to keep interest rates the same in its October review. The Indian rupee began trading stronger on September 30, opening 6 paise higher at 88.6975 against the US dollar, compared to its previous close of 88.7612. This gain came just a day before the Reserve Bank of India’s (RBI) monetary policy review, where markets are closely watching for signals on interest rates and economic direction. The currency’s firm opening stood out against the backdrop of weakness in other Asian currencies. According to Bloomberg data, several regional currencies continued to face pressure in early trade. The South Korean Won fell by 0.18 percent, the Thai Baht by 0.15 percent, while the Indonesian Rupiah and Singapore Dollar both slipped 0.08 percent. The Chinese Renminbi and Japanese Yen also weakened by 0.04 percent each, reflecting the broader strain on Asian markets due to global uncertainties. In contrast, the rupee’s relative strength reflects investor optimism about India’s economic stability and expectations that the RBI will maintain a cautious stance in its upcoming review. Analysts believe the central bank’s decision will focus on balancing inflation management with growth support, a strategy that has kept markets stable in recent months. A Moneycontrol survey of economists, fund managers, and treasury executives indicated that the RBI’s Monetary Policy Committee (MPC) is likely to keep interest rates unchanged in its October 1 meeting. This expectation, combined with domestic resilience, has helped support the rupee ahead of the policy announcement, even as global pressures weigh on other emerging market currencies.