The Indian rupee surged, marking its best day in a month, fueled by a drop in oil prices, a weaker dollar, and a rally in Asian currencies following an Israel-Iran ceasefire. This positive shift in risk sentiment boosted the rupee to 85.9750 against the U.S. dollar. However, doubts emerged regarding the ceasefire’s longevity after reports of violations, impacting market gains.
Originally published by The Economic Times https://economictimes.indiatimes.com/markets