Forex
Rupee Rises on Crude Price Drop, Easing US-Iran Tensions
The Indian Rupee has seen a significant rise against the US Dollar, reaching 96.25 in early trade on Monday.
This gain of 28 paise comes as crude oil prices have fallen sharply and global sentiment remains positive following the easing of tensions between the US and Iran.
The American currency index retreated from its elevated level, while domestic equities saw a strong buying trend, further supporting the local currency.
Analysts attribute the recovery in crude prices to the pause in strikes by the US and Iran against each other, with US President Donald Trump giving talks 'some space' as he said.