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The Economic Times

Oil slump, central bank support manifest in rupee’s three-day winning streak

Oil Reserve Bank Reserve Bank of India India Iran Sanjay Malhotra crude oil RBI

The Indian rupee strengthened for the third consecutive session on Monday, its longest winning streak in a month, powered by market interventions by the central bank and a slump in crude oil prices on hopes of a U.S.-Iran peace deal.

The rupee closed at 95.23 per dollar, up over 1.5% since Wednesday, when it had ‌hit a ⁠record low ⁠of 96.96 per dollar.

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