Mumbai: The rupee strengthened by 23 paise to 94.95 against the U.S. dollar in early trade today, supported by a pullback in Brent crude prices. The drop in oil came after U.S. President Donald Trump hinted at a possible deal with Iran, easing concerns over supply disruptions from West Asia.
Forex traders said lower crude prices reduced dollar demand from importers, lifting the Indian currency. The rupee had closed at 95.18 in the previous session.
Brent crude retreated from recent highs following Trump’s remarks, helping risk sentiment improve across Asian markets.
