The Indian rupee strengthened by 21 paise to 96.05 against the US dollar, supported by RBI intervention and easing concerns over global oil supply disruptions. Improved market sentiment, planned RBI liquidity measures, and stabilising crude oil prices helped the currency recover after recently nearing record lows against the dollar.
The Indian rupee recovered 61 paise after touching a record low as Donald Trump signalled progress in Iran peace talks. Softer crude oil prices improved investor sentiment, supporting the currency. However, elevated oil prices, rising US Treasury yields, and pressure on India’s forex reserves continue to challenge the rupee outlook.
