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Forex

Rupee Stabilizes at 95.95 Amid Hopes of US-Iran Talks

Guavy AI Editorial Team
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USD
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The Indian rupee stabilized on Tuesday at 95.95 against the US dollar after fluctuating throughout the day, gaining just 2 paise.

Forex traders attributed this stability to possible RBI intervention and a pull-back in oil prices following hopes of negotiations between the US and Iran.

Gains in the rupee were capped by strong demand for the US dollar from local importers and a stronger greenback.

According to Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan, 'We expect the rupee to trade with a negative bias on risk aversion in global markets and concerns over elevated crude oil prices.'

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