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Indian rupee strengthens past 94/$ as oil slides, foreign inflows return
MUMBAI: The Indian rupee strengthened past 94 per dollar on Friday, regaining appeal among emerging-market currencies after spending much of the year in the doldrums, and also posted its best week in three weeks. Helped by the unwinding of the once-dominant AI trade and a sharp fall in oil prices after the Democrats swept the US midterm elections, the rupee rose to its highest level since April 22, backed by strong inflows into equity and debt markets. “The recent appreciation in the rupee is backed by the supportive mix of softer crude oil, easing yields and renewed foreign inflows post the U...
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