INR recovers amid correction in global crude oil prices

The Indian rupee is recovering further ground against the dollar on Thursday tracking pull back in dollar overseas and correction in international crude oil prices under $60 per barrel. WTI crude oil futures hovered below $60 per barrel on Thursday, holding a two-day decline to a two-week low, as a large inventory build amplified concerns about oversupply. Besides, positive opening in local equities in line with Asian peers. Indian markets were closed on Wednesday for a public holiday in observance of Guru Nanak Jayanti. INR opened at Rs 88.51 per dollar and registered an intraday high and low of 88.49 and 88.63 so far during the day. On Tuesday, rupee ended at 88.70.

 

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