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Forex

Rupee Strengthens Against US Dollar Amid Falling Oil Prices and Soft American Currency

Guavy AI Editorial Team
Instruments
USD
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The Indian rupee has strengthened against the US dollar in early trade on Monday, tracking falling global crude oil prices and a softer American currency.

This trend is attributed to Trump's decision to hold off on new strikes following negotiations with Iran, which have taken place today.

Foreign fund inflows and a rise in the country's forex reserves are also supporting rupee sentiment. The RBI data showed that the country's forex reserves jumped $6.118 billion to $682.354 billion during the week ended July 24.

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