INR seen supported by lower crude prices, improving foreign flows and hopes of de-escalation in the Middle East
Mumbai, Nov. 9 -- The Indian rupee appreciated 24 paise to 93.74 against the US dollar in early trade on Monday, supported by lower crude prices, improving foreign flows and hopes of de-escalation in the Middle East. Overall outlook for the rupee remains positive as any progress towards peace in the Middle East reduces the risk premium in crude oil and provides further support to the rupee. Over the weekend, encouraging news came from the Middle East, as President Donald Trump indicated that fresh military strikes against Iran are highly unlikely if negotiations make progress and both sides reach a strong agreement. Local shares were a tad lower in lackluster trade on Monday after last week's strong rally. The 30-share BSE Sensex was down...
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