The post USD/INR dives on bleeding Oil price, weak US Dollar appeared on BitcoinEthereumNews.com.

Indian Rupee surges 0.75% to near 86.10 against the US Dollar as Oil price dives following Israel-Iran truce. A significant improvement in investors’ risk appetite has battered the US Dollar badly. Fed’s Bowman argued in favor of reducing interest rates in the July policy meeting. The Indian Rupee (INR) surges to near 86.10 against the US Dollar (USD) during European trading hours on Tuesday. The USD/INR pair slumps as the bleeding Oil price follows the announcement of the Israel-Iran ceasefire by United States (US) President Donald Trump through a post on Truth.Social has strengthened the Indian currency. The Oil price on the New York Mercantile Exchange (NYMEX) has dived over 15% from its high of $76.74. This scenario is favorable for currencies of nations that have lower Oil reserves and depend significantly on imports to address their needs, such as the Indian Rupee. Inflation in the Indian economy cools down, and the current account deficit diminishes if Oil prices remain lower. It has been fully agreed by and between Israel and Iran that there will be a Complete and Total CEASEFIRE (in approximately 6 hours from now, when Israel and Iran have wound down and completed their in-progress, final missions!), for 12 hours, at which point the War will be considered, ENDED,” Trump wrote. Following the announcement of Israel-Iran ceasefire by US President Trump, a senior Iranian official has also confirmed that Tehran agreed to Qatar mediated, US-proposed ceasefire with Israel, Reuters reported. Lower Oil prices and a sharp increase in the risk appetite of investors, following the Iran-Israel ceasefire announcement, have fuelled a strong recovery in the Indian equity market, sending Nifty50 208 points higher at open to near 25,180. Meanwhile, Sensex30 has rallied 0.85% to near 82,600. Both indices saw a sharp sell-off in the opening session on…

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Filed under: News - @ June 24, 2025 7:28 am