Indian Rupee strengthens to 94.60 against US dollar in early trade on US-Iran peace deal

STC NEWS MONITORING DESK
SRINAGAR, JUNE 15 (STC): The India Rupee (INR) strengthened by 58 paise against the US dollar to 94.60 in early trading today. A sharp decline in global crude oil prices after US President Donald Trump announced that Washington and Tehran had reached an agreement to end the conflict, helped the rupee to gain against the dollar.
Forex traders have said the domestic currency also benefited from a strong opening in Indian equity markets and weakness in the US dollar.
In the interbank foreign exchange market, the rupee opened at 94.70 per dollar and later advanced to 94.60, marking a gain of 58 paise from its previous close.
The domestic currency had strengthened by 67 paise against the US dollar, ending Friday’s session at 95.18.
(Straight Talk Communications)