Indian rupee rises as oil remains below $119
Indian rupee rises as oil remains below $119
Reuters
Mumbai: The Indian rupee rose in early trade on Thursday, as oil remained below $119 a barrel, calming expectations of a widening trade deficit.
At 9:10 a.m, the partially convertible rupee traded at 41.98/99 per dollar, higher than 42.08/09 per dollar at close on Wednesday, when it had risen to as much as 41.91 in intra-day trade, a level last seen on 24 July.
Oil, India’s biggest import, recovered from a three-month low, to trade near $119 a barrel on Thursday.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!