The Indian Rupee and Falling Crude Oil Prices Will Aid the RBI
The Indian rupee is expected to advance further following its recent recovery, with falling crude oil prices boosting this momentum. Continuous intervention by the RBI has provided strength to the rupee.
Translated from the Hindi original · translation AI-generated
The Indian rupee closed last week at 95.38 per dollar, marking a 1.2% increase. Traders estimate that the rupee may open between 95.25 and 95.30 on Monday. The Reserve Bank's continuous intervention through dollar sales has strengthened the rupee. Meanwhile, Brent crude oil prices have fallen by 4.7% for October delivery, dropping below $84 per barrel. This decline followed U.S. President Donald Trump's decision to postpone plans for an attack on Iran.