Rupee Appreciates 13 Paise as Crude Oil Prices Retreat

The Indian rupee appreciated by 13 paise to close at 95.81 against the US dollar on Wednesday, driven by a decline in crude oil prices and a decrease in the US Dollar index.

According to Forex traders, easing US Treasury yields from multi-decade highs also supported the rupee.

However, weak domestic markets capped sharp gains for the domestic unit.

Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan, expects the rupee to trade with a negative bias due to uncertainty over the US-Iran deal and risk aversion in global markets.