17 Hrs
Source:
Sky News
Indian rupee gains amid oil fall and central bank signals
The Indian Rupee appreciated against the dollar by 0.4% to reach 95.34, supported by a decline in global oil prices and reduced pressure on the currency, after Brent crude oil prices fell below $100 per barrel. This improvement comes amid statements from the Indian Central Bank indicating that the currency may be undervalued. Since the beginning of the year, the rupee has depreciated by 5.8% due to record foreign outflows and rising oil prices resulting from the war. The central bank is exploring options to maintain the rupee's stability, including raising interest rates and expanding currency swap operations.
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