The Indian rupee opened higher today at 93.74 against the US dollar, up 19 paise from its last close.
This jump is mostly thanks to crude oil prices cooling off, from over $115 a barrel to around $92, as global tensions ease.
That's good news for India, since cheaper oil means less pressure on the economy and a happier rupee.
Traders expect short term rupee 93.25-94.25
With oil prices down, India doesn't need as many US dollars to pay for imports, which helps keep the rupee strong.
Plus, foreign investors are bringing more US dollars into the country.
Still, traders think the rupee will likely move between 93.25 and 94.25 in the short term because stronger US Treasury yields and a firm US dollar globally could slow down any big gains.