Rupee Recovers on Falling Oil Prices, Trades at 95.40 Against US Dollar
The Indian rupee has rebounded from an initial decline to trade 4 paise higher at 95.40 against the US dollar in early Thursday trade.
This recovery is attributed to a decrease in Brent crude prices, which fell below USD 90 a barrel for the first time in several sessions.
The continued discussions between Iran and Oman over a temporary shipping corridor through the Strait have reduced concerns about a prolonged disruption to global oil supplies, according to forex traders.