Rupee rises 47 paise to ₹94.71 after US Iran accord
Business
The Indian rupee got a solid boost on Monday, rising 47 paise to close at 94.71 against the US dollar.
This happened after the US and Iran reached a peace deal, ending their 107-day war and reopening the Strait of Hormuz, leading to a big drop in global oil prices.
Sensex jumps 1.49% after oil drop
With Brent crude falling nearly 5% to $82.99 per barrel, inflation worries eased for India.
The Sensex jumped 1.49% and Nifty rose almost 1%, reflecting upbeat market vibes.
Analysts say the rupee could stay between ₹94.20 and ₹94.95 for now, helped by lower oil costs and a softer dollar.