Rupee Strengthens Against Dollar as Oil Prices Ease

The Indian rupee strengthened by 35 paise to 95.64 against the US dollar in early trade, helped by easing oil prices and a positive market sentiment.

Oil prices had been on the rise due to tensions in West Asia, but they moderated as the United States and Iran refrained from attacking each other's targets for a third consecutive day.

Analysts said that diplomatic efforts towards bringing both sides back to negotiations had made progress, with US President Donald Trump claiming that Iran had reached out directly after sustained US strikes.

Tehran denied any direct talks were currently taking place. Domestic equity markets also traded in positive territory during early deals, with the BSE Sensex gaining 14.66 points and the NSE Nifty rising 27.10 points.