Rupee rises to 95.04 against US dollar after oil dip
Business
The Indian rupee got a boost, rising to 95.04 against the US dollar after global oil prices dipped, thanks to some progress in peace talks between the US and Iran.
Since India imports most of its energy, cheaper oil is good news for the rupee and helps ease pressure on the country's finances.
Oil firms hedge, RBI may intervene
To keep things steady, oil companies are hedging against future currency swings, and the Reserve Bank of India (RBI) might step in, too.
There is talk that the RBI could bring in more dollars or let state-run banks raise money overseas, moves aimed at keeping the rupee stable.