The Indian rupee strengthened against the U.S. dollar for a second day. This rise follows a drop in oil prices and measures by the Reserve Bank of India to attract foreign currency. The rupee reached its highest level in five weeks. Traders anticipate a supportive near-term phase for the currency. Lower oil prices and expected dollar inflows are key factors.
The Indian rupee strengthened against the U.S. dollar for a second day. This rise follows a drop in oil prices and measures by the Reserve Bank of India to attract foreign currency. The rupee reached its highest level in five weeks. Traders anticipate a supportive near-term phase for the currency. Lower oil prices and expected dollar inflows are key factors.
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