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Rupee Rallies as US-Iran Tensions Ease and Oil Prices Plunge

Guavy AI Editorial Team
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USD
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The Indian Rupee (INR) has continued its recovery against the US Dollar (USD), falling to near 96.10 at the start of the Federal Reserve's monetary policy week.

This comes as a pause in military aggression between the United States and Iran has weighed heavily on oil prices, diminishing the safe-haven appeal of the USD.

The MCX Crude Oil contract expiring on August 19 traded 4.75% lower to near Rs. 8,200, which is beneficial for economies like India that rely heavily on oil imports.

The pause in US-Iran military aggression has also renewed hopes for diplomatic efforts between the two nations, with President Donald Trump deciding to halt US attacks to allow more time for diplomacy.

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