indian rupee gains - Indian Rupee gains on US-Iran two-week ceasefire, RBI keeps Repo Rate steady at 5.25%
The Indian Rupee (INR) jumps to a fresh an almost three-week high against the US Dollar (USD) in the opening trade on Wednesday. The USD/INR pair slides to near 92.30 as the US Dollar weakens and global oil prices nosedive, following a temporary ceasefire between the United States (US) and Iran.
As of writing, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, is down 0.55% to near 99.00. WTI Oil price plummets almost 11% to near $90.00.