AI Generated Image
The Indian rupee appreciated by 25 paise to 93.68 against the US dollar in early trade on Monday, supported by declining crude oil prices, foreign fund inflows and hopes of easing tensions in West Asia.
The currency extended its recovery after recording its strongest weekly advance of 2026 last week, gaining around 1 per cent to reach its highest level since April.
On Friday, the rupee had surged 43 paise to close at 93.98 against the US dollar.
According to market experts, the USD/INR pair opened near 93.90 and traded around 93.70, extending its recent decline after breaking below the 94.40-94.50 range.
Experts placed immediate resistance at 93.90-94.00, followed by 94.40-94.50. On the downside, support levels stood at 93.40-93.50 and 92.90-93.00.
The rupee’s recovery has been supported by foreign portfolio investment inflows of around $1.5 billion, a weaker US dollar, lower crude prices and easing concerns over India’s energy import exposure.
Meanwhile, Brent crude, the global oil benchmark, fell 0.15 per cent to $98.17 per barrel in futures trade on Monday.
Market sentiment improved after US President Donald Trump indicated that further military strikes against Iran were unlikely if negotiations over its nuclear programme and the Strait of Hormuz made progress.
The US dollar index also slipped towards 102, although stronger-than-expected US employment data supported expectations of tighter monetary policy.
Markets are now pricing in an 81 per cent probability of a Federal Reserve rate hike in December, compared with 71 per cent before the employment report.
To read more such news, download Bharat Express news apps
