New Delhi, May 06 (BNP): The Indian rupee registered a strong rebound on Wednesday, appreciating by 61 paise to close at 94.57 (provisional) against the US dollar, supported by easing crude oil prices and improved global sentiment.
The gain came as Brent crude softened from recent highs near the $100 per barrel mark, easing pressure on import costs and currency markets. Sentiment was further lifted by signs of easing geopolitical tensions in the Middle East, which helped calm investor concerns.
Market participants noted that the Reserve Bank of India (Reserve Bank of India) has been taking indirect steps to manage volatility and support stability in the foreign exchange market.
Overall, the rupee’s recovery reflected a mix of softer oil prices, reduced global risk, and steady policy support, contributing to improved confidence in currency markets.
