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Rupee jumps 31p on falling crude prices
Financial Express Lucknow
|May 06, 2025
Handsome Gain
THE RUPEE ROSE 31 paise, or 0.37%, to 84.2475 against the US dollar on Monday, driven by a decline in crude oil prices. Brent crude prices plunged by up to 4.55% to $58.5 on Monday after the OPEC+ agreed to a further increase in output over the weekend, spurring concerns about a glut of supply into an uncertain demand environment.
"Rupee strengthened after a highly-volatile trading session on Friday, underpinned by persistent overseas investment in domestic stocks and renewed appetite for risk-driven assets," said Dilip Parmar, research analyst, HDFC Securities. "The currency also drew support from a softening US dollar and easing crude oil prices, which bolstered the sentiment in both the Indian bond and rupee."
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