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Indian Rupee Rebounds as Oil Prices, US Yields Pause Rally

Guavy AI Editorial Team
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USD
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The Indian Rupee (INR) has rebounded against the US Dollar (USD), correcting to near 95.75 from an over seven-week high of 96.10 posted the previous day.

This move is attributed to a pause in the rally of oil prices and United States (US) Treasury Yields, which have cooled down after hitting a 19-year high of 5.04% on Tuesday.

The MCX Crude Oil contract expiring on September 21 trades at around Rs. 9,688, correcting from its multi-month high of Rs. 10,238 posted earlier this week.

Analysts at Deutsche Bank note that an improvement in the outlook for oil flows out of the Middle East has resulted in a pullback move in oil prices.

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