The Indian Rupee strengthens to near 95.50 per USD after oil prices fall amid reports of a ceasefire in the Middle East.
The Indian Rupee (INR) rebounded against the US Dollar (USD) at Tuesday’s open, reversing a sharp decline from the previous session. The USD/INR pair fell to near 95.50 as oil prices tumbled following reports of a ceasefire between Iran and Israel after recent hostilities.
The rupee had weakened in prior sessions due to rising crude prices, which stoked inflation concerns and weighed on the currency. Analysts noted that the truce eased supply risks, reducing pressure on India’s import-dependent economy.
Markets reacted positively to the de-escalation, with the INR stabilizing as oil prices retreated from recent highs.