Indian Rupee Strengthens Against Dollar As Oil Prices Decline

Economic Times Markets · stocks

The Indian rupee saw a moderate strengthening on Monday, closing at 94.74 against the US dollar, up from 94.90 the previous day. This appreciation occurred as oil prices retreated from six-month highs, with Brent crude futures falling to $104 per barrel during Asian trading hours. The currency traded within a range of 94.88 and 94.60 throughout the day. The market is also anticipating the upcoming US midterm elections.