Brent crude fell more than 6%, moving closer to the $82 per barrel mark. For India, which imports nearly 90% of its oil requirements, lower crude prices are often like a favorable wind behind a ship supporting the rupee
Brent crude fell more than 6%, moving closer to the $82 per barrel mark. For India, which imports nearly 90% of its oil requirements, lower crude prices are often like a favorable wind behind a ship supporting the rupee
At the interbank foreign exchange, the rupee opened at 94.70 against the U.S. dollar before rising further to 94.60, up 58 paise from its previous close.
The rupee is likely to trade a 95.40-95.80 range with weakening bias, IFA Global said in a research note
The uncertainty surrounding West Asia continues to cast a shadow over financial markets and energy prices
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 99.09, up 0.07%
Rupee opened at 96.30 against the U.S. dollar, then touched 96.18 in early trade, up 18 paise from its previous close
At the interbank foreign exchange market, the rupee opened at 95, then gained some ground and touched an early high of 94.95, registering a gain of 23 paise from its previous low
The rupee appreciated 16 paise to 95.03 against US dollar in early trade on Tuesday, as the market weighed India's strong domestic fundamentals against ongoing geopolitical uncertainty. Forex traders said the USD/INR pair opened on a positive note this morning on a slight risk off sentiment. However, the uncertainty surrounding West Asia continues to cast a shadow over financial markets and energy prices. At the interbank foreign exchange market, the rupee opened at 95.16 against the US dollar,…
The rupee appreciated by 23 paise to 94.95 against the US dollar in early trade on Wednesday as Brent crude prices retreated from their elevated level after US President Donald Trump hinted at a possible deal with Iran. Forex traders said oil prices fell to USD 108 per barrel, as signs of easing geopolitical tensions in the Middle East offset the lingering supply concerns. At the interbank foreign exchange market, the rupee opened at 95, then gained some ground and touched an early high of 94.9…
The Indian Rupee strengthened significantly against the US Dollar on Monday. This surge followed the announcement of a peace deal between the United States and Iran, which is expected to end their war. Global crude oil prices saw a sharp decline as a result. Strong performance in domestic equity markets also supported the local currency.
The Indian Rupee gained ground against the US Dollar today. This rise follows an agreement between the US and Iran to extend a ceasefire. Forex traders believe this will ensure continued trade through the Strait of Hormuz. Stable oil prices offer relief to India, an oil-importing nation. However, foreign investment flows remain a key challenge for the Rupee's stability.
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