The Indian rupee recovered momentum in opening trades on Monday as international oil prices fell sharply following a pause in hostilities between the US and Iran over the weekend, easing concerns over supply disruptions and inflation. The US reportedly suspended its nearly two-week campaign of strikes against Iran beginning late Friday without an official announcement, while Tehran said it had ended its retaliatory military operations and held discussions with Oman over the Strait of Hormuz. INR opened at Rs 96.18 per dollar and hit a high of 96.14 so far during the day. On Friday, the counter settled at 96.53. Asian stock markets climbed Monday as crude oil prices fell sharply and Middle East tensions eased over the weekend. Both domestic benchmark indices also started the day on a positive note, rebounding from a multi-day losing streak. The NIFTY 50 opened today at 23,928.40, while the BSE SENSEX opened at 76,608.98.
Powered by Capital Market - Live News