Indian rupee opens 95.04/USD, snaps 5-day slide after Trump hint
The Indian rupee finally caught a break on Wednesday, snapping its five-day losing streak and opening at 95.04 per US dollar.
This rebound happened after oil prices slid, thanks to US President Trump hinting at possible peace deal with Iran.
Just a day earlier, the rupee had hit a record low of 95.4450 against the US dollar.
Most Asian currencies gain, rupiah slips
Currency advisers are telling exporters to sell US dollars if rates go up near 95.25, while importers should buy on dips to cover immediate needs, basically trying to keep things steady for now.
Across Asia, most currencies also got a boost as the US dollar weakened: South Korea's won led the way, with others like the Thai baht and Philippine peso not far behind.
The only outlier? Indonesia's rupiah, which slipped slightly even as its neighbors gained ground.