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fxJul 2, 2026, 5:31 AM

Indian Rupee Rises as Oil Prices Fall on US-Iran Talks Progress

The Indian Rupee opened higher against the US Dollar on Thursday, supported by a decline in oil prices amid progress in US-Iran talks, bringing USD/INR near 95.00.

USDINR

The Indian Rupee (INR) strengthened at the open on Thursday, recovering from a sharp decline the previous day. The USD/INR pair fell to around 95.00 as lower oil prices boosted the appeal of the Indian currency.

Oil prices dropped following progress in negotiations between the United States and Iran, which improved market sentiment for emerging-market currencies like the INR. India, as a major oil importer, benefits from cheaper crude, reducing its trade deficit and supporting the rupee.

Source: FXStreet Forex News