Indian Rupee Extends Winning Streak
The Indian rupee strengthened for the fourth consecutive session, supported by a weaker dollar, lower oil prices, and rising domestic equities. Meanwhile, India reported a merchandise trade deficit of 30.21 billion dollars for September.
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India's rupee rose 0.1% to 95.0550 per dollar on Thursday morning, extending its winning streak to four sessions. The currency gained 2% over the week following a central bank intervention and a weaker dollar. Brent Crude Oil fell alongside the greenback to support the emerging-market currency.
