New Delhi, May 21 -- The rupee opened 52 paise stronger at 96.30 against the US dollar on Thursday, 21 May, supported by a sharp correction in crude oil prices, which also eased pressure on US Treasury yields - a major concern for the domestic currency in recent sessions.

Despite the recovery, the rupee remains on a nine-session losing streak, having declined 2.5% during the period while repeatedly hitting fresh record lows against the dollar.

As per a Reuters report, currency market participants noted that any decline in the dollar-rupee pair is likely to attract buying interest from importers. Brent crude fell 5.6% on Wednesday, trading near $105 per barrel as investors tracked developments in US-Iran negotiations.

US President Donal...