Indian rupee rises 39 paise to 92.75 amid easing tensions
Business
The Indian rupee jumped 39 paise to 92.75 in early trade on Friday.
This uptick comes as global tensions eased and the mood in local markets turned upbeat, giving the currency some much-needed momentum.
Cease-fire inflows cheaper oil support rupee
A cease-fire between Israel and Lebanon, and China pushing for safer trade routes, made investors feel more confident about global markets.
Add in fresh foreign investments, plus cheaper oil prices (Brent crude dropped to $98.24 a barrel), and you get a stronger rupee.
Even with these positives, though, the strong US dollar is still keeping some pressure on India's currency.