Rupee Surges on Eased Tensions with Iran

The Indian rupee has opened higher against the US dollar on July 27, as the threat of military strikes between Iran and the US has eased.

Oil prices plummeted more than 5% after the pause in hostilities, prompting investors to unwind their risk premium.

The rupee opened at 96.14 per US dollar, a gain of 43 paise from its previous close of 96.57.

According to Finrex, exporters are likely to wait for higher levels before selling dollars, while importers may use the dip to hedge near-term import payments.