Forex
Rupee Surges Amid Crude Oil Price Correction
The Indian rupee experienced a significant surge on Monday, appreciating by 61 paise to close at 95.92 against the US dollar.
This improvement was largely driven by the decline in crude oil prices following the pause in the conflict between the US and Iran, which has alleviated concerns over global trade tensions.
The rupee also found support from a strong trend in domestic equities and weakness in the US dollar against major currencies, contributing to its appreciation.