Indian rupee posts biggest gain since May 23rd

The Indian rupee had a strong day on Tuesday due to lower oil prices, a weaker dollar, and improved risk sentiment following a ceasefire between Israel and Iran.

The rupee ended the day at 85.9750 against the US dollar, marking a 0.9 per cent increase, its largest one-day gain since May 23.

India’s main stock market indexes, the BSE Sensex and Nifty 50, closed higher, although gains were reduced following Israel’s announcement that Iran had breached the ceasefire.

Attribution: Reuters
Subediting: M. S. Salama