Rupee Set to Open Firmer on Plunging Oil Prices
The Indian rupee is expected to open firmer following an eleven percent drop in crude oil prices. However, persistent dollar strength and technical resistance are likely to limit further gains.
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India's rupee is set to open firmer on Tuesday following an 11% plunge in Brent Crude Oil, though dollar strength and technical barriers threaten to cap gains. The currency is expected to open in the 94.75–94.78 range against the dollar, up from Monday's close of 94.90. The drop in oil prices follows diplomatic talks between Iran and Qatar aimed at easing the conflict involving the United States and Israel.
