INR extends further upside amid easing oil prices and ongoing impact of RBI measures
Mumbai, Oct. 15 -- The Indian rupee appreciated 31 paise to 94.86 against the US dollar in early trade on Thursday, supported by the ongoing impact of the Reserve Bank of India's structural forex interventions and liquidity-tightening measures. However, ongoing external macroeconomic pressures are likely to temper further gains. Decline in oil prices and positive equities are also seen aiding gains in the local unit. Indian shares were sharply higher in early trade on Thursday as Brent crude futures fell nearly 2 percent toward $104 a barrel on reports that the Trump administration is considering easing sanctions on so-called shadow fleet vessels in order to reduce record-high global freight rates. The benchmark 30-share BSE Sensex was up...
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