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Indian rupee finds its footing as oil worries cool, traders watch flow momentum
MUMBAI: The Indian rupee ended at its strongest level in two weeks on Thursday as oil prices eased below $100 per barrel on hopes that the risk of escalation in the Iran war has diminished after Republicans lost control of the US Congress. Easing oil prices lifted Indian stocks to their best day in 7 months while bond yields dropped to their lowest in more than one month on easing investor anxiety over the economic impact of high energy prices on the world’s third-largest oil importer. The Indian rupee’s reaction was more tepid with a 0.2% gain to end at 94.4750 dollar, tracking gains in most ...
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