Rupee Rallies as Crude Prices Ease, Hits 95.83 vs US Dollar

The Indian rupee rebounded to 95.83 against the US dollar on Wednesday as crude prices eased, according to The Economic Times.

The currency gained 0.16% from its previous close of 95.98 against the greenback and tracked broader gains across Asian currencies.

Lower crude prices and a retreat in global bond yields also contributed to the rupee's appreciation, said Dilip Parmar, a research analyst with HDFC Securities.

The rupee opened at 95.95 but strengthened to 95.93 immediately before dipping to 95.9850 due to higher dollar demand and foreign institutional investment outflows.