The Indian rupee is positioned to extend its recent strength on Monday, supported by a dual tailwind of falling oil prices and positive signals from US-Iran peace negotiations.
Traders indicated that the currency could inch higher as global energy markets digest the geopolitical de-escalation.
8% appreciation. This represented its best weekly performance in an extended period, driven by easing risk sentiment and a stabilizing external environment.
The rupee closed the previous week at 94.32 against the dollar, marking a 0.8% appreciation.
This represented its best weekly performance in an extended period, driven by easing risk sentiment and a stabilizing external environment.
The move reflects broader market confidence as the threat of supply disruptions in the Middle East recedes.
Iran’s acknowledgment of progress in peace talks with the United States has helped calm volatility in crude oil markets.