The Indian rupee just got a bit stronger, opening on Wednesday, November 11 at 93.72 per US dollar, 21 paise higher than before.
This jump is mostly thanks to cheaper crude oil, which means India spends less on imports and needs fewer dollars to pay for them.
RBI, inflows face US yield risk
The Reserve Bank of India has been working behind the scenes to keep dollar demand in check, and more foreign money is flowing into Indian markets right now.
Still, rising US Treasury yields (because of strong inflation data) might tempt investors back toward the dollar, so the rupee's winning streak could face some bumps ahead.