Rupee Jumps 75 Paise To 86.03 Vs US Dollar, Oil Price Crash & Ceasefire Boost Sentiment

Mumbai: The Indian rupee gained 75 paise and closed at ₹86.03 per US dollar on Tuesday. This was a sharp recovery after it had fallen to a five-month low of ₹86.78 on Monday.

Crude Oil Prices Crash

The main reason for the rupee’s rise was a big drop in global crude oil prices. Brent crude fell by 3.19 percent to USD 69.20 per barrel. This happened after US President Donald Trump announced a ceasefire between Iran and Israel.

Rupee Jumps By 65 Paise On Ceasefire Hopes, Oil Price Fall & Market Rally Boost Sentiment

Dollar Weakens, Helping Rupee

The US dollar also weakened, with the dollar index dropping 0.48 percent to 97.94. A softer dollar usually helps other currencies like the rupee gain strength.

Stock Markets Also Rise

India’s stock markets were also positive:

- Sensex rose by 158 points to close at 82,055.11

- Nifty climbed 72 points to 25,044.35

These gains added to the rupee’s strength.

Rupee Dips 17 Paise To 86.72 Against US Dollar; Global Crude Oil Prices Surge Amidst US Attack On Iran

What’s Next?

Analysts say traders will now watch:

- US consumer confidence data

- Testimony from US Federal Reserve Chair Jerome Powell

Experts expect the rupee to move between Rs 85.60 and Rs 86.40 shortly.