Indian rupee steady 95.69 per USD as oil falls
Business
The Indian rupee closed at 95.69 per US dollar on Wednesday, barely moving from its previous close.
This calm streak was helped by falling crude oil prices and hopes for peace in West Asia, with central bank intervention to keep things stable.
The currency traded quietly within a narrow range all day.
Brent down over 3% to $96.50
Brent crude fell over 3% to $96.50 a barrel, which is good news for India's economy since we import so much oil.
Bond yields stayed low, and trading was smooth as tensions between the US and Iran didn't escalate.
Still, the rupee has slipped about 3% since April, showing that global events and oil prices continue to shape its journey.