Indian Rupee Strengthens for Third Straight Day as Global Oil Prices Dip on US-Iran Peace Hopes
मुख्य बातें
- •The Indian rupee appreciated by 34 paise to close at 95.26 against the US dollar on Monday, marking its third straight day of gains.
- •Brent crude oil prices fell 5.10% to $98.26 per barrel amid optimism over a potential US-Iran peace deal.
- •The BSE Sensex rose 1,073.61 points to 76,488.96, and the Nifty gained 312.40 points to close at 24,031.70.
- •Foreign exchange reserves decreased by $8.094 billion to $688.894 billion for the week ended May 15.
The Indian rupee strengthened for the third consecutive trading session on Monday, closing 34 paise higher at 95.26 against the US dollar. The gain reflected improving global sentiment following signs of progress in diplomatic efforts to de-escalate tensions between the United States and Iran. According to reports citing PTI, optimism grew around easing geopolitical risks in West Asia and potential progress in negotiations concerning the Strait of Hormuz—a critical global oil transit route.
At the interbank foreign exchange market, the domestic currency opened at 95.36 against the greenback. It later touched an intraday high of 95.12 before settling at 95.26. On Friday, the rupee had already closed 75 paise stronger at 95.60, indicating a sustained upward trend. Forex traders attributed part of the rupee's strength to reassuring comments from a senior Reserve Bank of India (RBI) official, who emphasized the central bank's commitment to maintaining orderly conditions in the foreign exchange market.
