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INR supported in volatile trades
(07-May-26 12:51)
The Indian rupee stayed supported today as sharp gains in last session provide short lived. INR appreciated around 60 paise against the US dollar on Wednesday, as Brent crude prices slumped from elevated levels under USD 100 per barrel after US President Donald Trump hinted at a possible deal with Iran. Market sentiment was boosted after Trump paused Project Freedom, a US operation to escort ships through the Strait of Hormuz. India's BSE Sensex rose 1.2% on Wednesday, hitting over two-week high. The US dollar index also slipped to lowest since February 2026. However, overnight developments showed cautious undertone on geopolitical front. INR currently quotes up 9 paise at 94.40 per US dollar in highly volatile moves. It had tested near 94.90 per US dollar mark in early trades.
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