Mumbai, April 15
The Indian rupee appreciated by 20 paise to 93.15 against the US dollar in early trade on Wednesday, supported by softer crude oil prices and a weaker American currency amid renewed optimism over possible US-Iran talks.
Market sentiment improved after US President Donald Trump indicated that a second round of discussions with Iran could take place in the coming days. “I can tell you that we have been called by the other side,” he said, signalling willingness for dialogue. Analysts said the remarks led to a decline in crude oil prices and lifted investor confidence.
At the interbank foreign exchange market, the rupee opened at 93.19 and strengthened further to 93.15, recovering from its previous close of 93.35 on Monday. The forex market remained shut on Tuesday due to Ambedkar Jayanti.
The dollar index, which tracks the greenback against a basket of currencies, was slightly higher at 97.95, while Brent crude traded at USD 95.33 per barrel. Domestic equity markets also witnessed a sharp rise, with the Sensex and Nifty posting strong gains in morning trade.
The rupee’s movement will continue to be influenced by global oil prices, geopolitical developments, and foreign investor activity in the coming sessions.
