Indian rupee at ₹94.56 per $1 after 3rd straight gains
The rupee kept up its winning streak, ending Tuesday at 94.56 per US dollar, its third straight day of gains.
This boost came thanks to foreign inflows from the central bank measures and softer oil prices after end of war, with the currency even hitting a quick high of 94.4950 before settling down.
Traders also noticed lots of importer activity as companies locked in rates while the rupee was strong.
Brent crude falls below $81.50
A big reason for the positive vibes? Reports of a deal between the US and Iran could reopen a key oil route and already pushed Brent crude prices below $81.50 per barrel.
That's good news for India since lower oil costs mean less spending on imports and less pressure on the rupee.
Now, all eyes are on the US Federal Reserve's policy update coming after Indian markets close Wednesday: any hints about future rate changes could shake things up for the rupee next.