Rupee Rebounds on Lower Oil, NSE IPO Inflows

The Indian rupee has rebounded from its seven-week low, reaching around 95.7 per dollar, as crude oil prices fell for a third straight session to $104.1 a barrel.

This decline in oil prices, along with expectations of foreign portfolio inflows linked to the National Stock Exchange's $2.3 billion IPO and likely RBI intervention, has supported the currency.

The NSE IPO is set to close for subscription on Monday, and traders expect sizeable demand from foreign institutional investors.