Daijiworld Media Network - Mumbai

Mumbai, Mar 25: The Indian rupee snapped its three-day record-low streak to close 12 paise higher at 93.86 against the US dollar on Wednesday, supported by easing crude oil prices and gains in domestic equities.

Pressure on the currency softened as global oil benchmarks cooled, with Brent crude hovering near $100 per barrel, down from last week’s peak of $114.

Domestic equity markets also lent support, rising by around 1–2 per cent, while the yield on the 10-year government bond eased, indicating improved investor sentiment.

Despite the recovery, analysts cautioned that volatility persists due to global uncertainties. Jateen Trivedi of LKP Securities said that while there are some positive signals of de-escalation in geopolitical tensions, the rupee continues to face underlying pressure.

Market participants are closely tracking global developments, particularly in energy markets and geopolitical hotspots, which continue to influence currency movements.