Rupee gains 15 paise to 85.28 against U.S. dollar on easing oil prices
Mumbai: The rupee appreciated 15 paise to 85.28 against the U.S. dollar in early trade on Tuesday, supported by improved market sentiment after Saudi Arabia cut August crude oil prices for Asia.
Forex traders said the fall in the West Asia risk premium and higher traffic through the Strait of Hormuz kept oil prices lower amid easing geopolitical tensions in the region.Lower crude prices are seen as positive for the rupee as India is a major importer of oil.
