Indian Rupee Strengthens as Oil Slump Drags USD/INR Below 95.65

The Indian rupee advanced for a third consecutive trading day on Tuesday, dragging the USD/INR pair towards the 95.65 level. The move was fueled by a further decline in crude oil prices, which eased pressure on India’s import bill.

Lower oil costs typically benefit the rupee, as India is a large net importer of energy. The pair’s drop to near 95.65 reflects growing short-term momentum for the local currency.