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Rupee Rises as Trump Calls Off Strikes Against Iran, Crude Oil Prices Fall

Guavy AI Editorial Team
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Oil
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The Indian rupee rose 31 paise to 95.12 against the US dollar in early trade on Monday, supported by lower Brent crude oil prices and sustained foreign portfolio inflows.

According to Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex Treasury Advisors LLP, the rupee was also boosted by a weaker dollar and continued RBI presence in the foreign exchange market.

The rupee's gain comes after US President Donald Trump decided to hold off on ordering American forces to carry out new strikes against Iran, leading to a decline in global crude oil prices.

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