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INR Rises Further As Crude Oil Tanks

Published on Dec 29, 2023 11:47

Indian Rupee firmed up further against the US dollar today, adding to recent gains after approaching near record low earlier this week. A deep slide in crude oil prices supported the INR. The WTI Crude Oil futures extended a decline on Thursday, slumping by more than 3% to test a one week low as Red Sea tensions have begun to recede. Meanwhile, the US dollar index holds just under 101 mark following a recovery in last session. INR is looking firm amid these cues and currently quotes at 83.11, up 9 paise on the day following a good bounce in last session.

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