Rupee Rebounds as Oil Prices Slide and Dollar Weakens

The Indian rupee rebounded on Tuesday, settling higher by 26 paise at 95.44 against the US dollar.

The rebound was driven by positive domestic markets, a weaker greenback, and lower crude oil prices.

Forex traders said the weakness in the US dollar could support the rupee at lower levels.

Dilip Parmar, Senior Research Analyst at HDFC Securities, noted that heavy central bank intervention and tumbling crude oil prices had revived risk appetite in the broader market.