Currency Buzz: INR breaks under 86 per US dollar as oil slides

Indian Rupee saw continued gains and broke under 86 per US dollar mark today. INR currently quotes up 11 paise at 85.93 per dollar amid firm equities. INR recovered from record low level and closed with a steep gain of around 75 paise at 86.05 against the US dollar as global crude oil prices tanked following hopes of deescalation in Middle East tensions. A weak greenback and positive sentiments in the domestic equity markets further boosted the local currency. Brent crude lost more than 3% to break under to $70 per barrel as US President Donald Trump announced that Iran and Israel agreed to a ceasefire.

Powered by Commodity Insights