Forex
Rupee Soars as Crude Prices Plunge Amid US-Iran Tensions Ease
The Indian rupee strengthened against the US dollar on Monday, driven by lower crude oil prices and positive global sentiment.
According to Deccan Chronicle, the rupee rose 28 paise to 96.25 against the greenback in early trade, benefiting from a sharp fall in crude oil prices and an easing of tensions in West Asia.
The US and Iran have signaled an easing of tensions, with US President Donald Trump giving talks 'some space', according to Mike Waltz, the US ambassador to the United Nations.
As a result, Brent crude, the global oil benchmark, fell 4.17% to $92.74 per barrel in futures trade.