INR extends rebound from historic lows but geopolitical risk and oil price sensitivity likely to cap upside
Mumbai, May 22 -- The Indian rupee is seen extending recovery in opening trades on Friday and moving further away from record low levels as international oil prices show signs of cooling down. INR opened at Rs 96.30 per dollar and hit a high of 96.18 so far during the day. Yesterday, rupee rebounded 49 paise from its all-time closing low to settle at 96.37 against the US dollar after crude oil prices retreated from elevated levels amid signs of easing geopolitical friction, alongside likely central bank intervention. Rupee had gained after the recent geopolitical developments, but investors are still gauging the geopolitical risk and oil price sensitivity in the background. The one-year forward market rate for the rupee touched the crucia...
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