Rupee gains to ₹92.56 before Reserve Bank of India meeting
Business
The rupee just got a boost, surging to ₹92.56 against the US dollar, up 50 paise on Wednesday.
This jump comes as everyone is watching the upcoming Reserve Bank of India policy meeting, with hopes it will bring more good news for the currency.
The rupee's move also lines up with some positive global trends.
Brent drop and ceasefire calm markets
A big drop in Brent crude prices (down 14% to $94.10 a barrel) and strong gains in US and Asian stock markets helped push the rupee higher.
Plus, a recent two-week ceasefire in the Middle East has calmed global nerves, making investors more confident and boosting Asian currencies all around.