Rupee Strengthens as Crude Prices Fall, Dollar Index Drops

The Indian rupee started the week on a positive note, opening at 95.14 per US dollar, up by 25 paise from its last close.

This gain came after Brent crude prices dropped to $84 a barrel and the dollar index slipped to 99.72, making it easier for the rupee to rise.

The Japanese yen led Asian currencies with a jump of 0.723%, followed by the South Korean won and Indonesian rupiah.

Exporters are looking to cash in on the gains, while importers are hedging their payments during dips, according to Finrex.