Rupee Surges Against Dollar Amid Crude Oil Price Drop

The Indian rupee has opened higher against the US dollar on August 3, rising 25 paise to 95.14 per USD.

This gain is largely attributed to a drop in crude oil prices, which fell to $84 per barrel following President Trump's decision to delay strikes on Iran.

The dollar index has also fallen, reaching levels of 99.72, further boosting the rupee's value.

Asian currencies have broadly strengthened against the US dollar, with the Japanese yen leading the gains at 0.723% appreciation.