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Forex

Rupee Soars as Trump Pauses Military Strikes Against Iran

Guavy AI Editorial Team
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USD
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The Indian Rupee (INR) has experienced a significant appreciation of 31 paise to 95.12 against the US Dollar (USD), marking its fifth consecutive day in positive territory.

This upward trend is attributed to several factors, including a steep fall in global crude oil prices and a softer US greenback following US President Donald Trump's decision to hold off military strikes against Iran.

According to forex traders, Foreign Institutional Investor (FII) inflows and a rise in the country's foreign exchange reserves have also strengthened the local unit, with support from the Reserve Bank of India (RBI).

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