The post Indian Rupee regains ground on hopes of Strait of Hormuz reopening appeared on BitcoinEthereumNews.com.

The Indian Rupee (INR) snaps four-day winning streak against the US Dollar (USD) on Monday. The USD/INR pair opens lower to near 92.80 as the US Dollar’s rally hits a pause amid speculation that the Strait of Hormuz could reopen soon. As of writing, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades 0.3% lower to near 100.20. The USD Index corrects after posting a fresh over nine-month high of 100.55 on Friday. The US Dollar has outperformed in the past few weeks amid rising oil prices, given that the United States (US) is a net exporter of oil. Trump calls on nations to intervene to reopen Strait of Hormuz The speculation for the reopening of the Strait of Hormuz, a channel through which 20% of global oil is supplied, which is closed as part of retaliation by Tehran against joint attacks by the US and Israel on Iran, has come into the picture as President Donald Trump has claimed that he is getting a good response from other countries for intervention. “Many Countries, especially those who are affected by Iran’s attempted closure of the Hormuz Strait, will be sending War Ships, in conjunction with the United States of America, to keep the Strait open and safe,” Trump said in a post on Truth.Social adding, “Hopefully China, France, Japan, South Korea, the UK, and others, that are affected by this artificial constraint, will send Ships to the area so that the Hormuz Strait will no longer be a threat by a Nation.” There seems to be a limited impact of Trump’s attempts to reopen Hormuz on the oil price, which has surrendered its opening gains. Given that India is one of the largest importers of oil in the world, a higher oil price is…

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Filed under: News - @ March 16, 2026 5:28 am