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Indian rupee to benefit from oil plunge while facing technical resistance, dollar strength
MUMBAI: The Indian rupee is likely to open on firmer footing on Tuesday following a slide in crude oil prices, though dollar strength and technical barriers are expected to contain the magnitude of the currency’s advance. The Indian rupee is expected to open in the 94.75-94.78 range, per traders, having settled at 94.90 to the dollar on Monday. Brent crude plummeted 11% on Monday, after talks between Iranian and Qatari officials raised hopes of a resolution to the US-Israeli war with Iran and a stabilisation of crude supplies from the Middle East. The drop held in Asia trading with Brent a...
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