Indian rupee climbs to five-week high, ends at 94.71 per dollar as West Asia tensions ease

The Indian rupee strengthened to a five-week high of 94.71 against the U.S. dollar as easing geopolitical tensions in the Middle East helped lift market sentiment and pushed global oil prices lower. Traders said improved risk appetite also supported the currency. They added that expectations of stronger foreign inflows further underpinned the rupee. The report highlighted “falling global oil prices,” pointing to a direct price link with crude oil as a commodity.