Rupee Rises to Near One-Month High on Lower Crude Oil Prices

The Indian rupee has strengthened to its highest level in nearly a month, reaching 95.13 against the US dollar on Monday.

This comes as crude oil prices have fallen sharply, with Brent crude down around 5% to $83.5 per barrel and WTI crude declining about 7% to remain below $79 per barrel.

The lower oil prices are expected to improve India's inflation and import outlook, which has contributed to the rupee's gains.

Foreign investors have also been net buyers of Indian equities in July, with total inflows of $41 billion attracted by measures announced by Indian authorities last month.