The Indian rupee gained 0.7% against the US dollar, marking its best single-session performance in over six weeks. This rally was fueled by likely intervention from the Reserve Bank of India, estimated between $1.5 billion to $3 billion, and a nearly 10% drop in Brent crude prices below $88 per barrel. The currency's strength was further boosted by the easing of geopolitical concerns and foreign investment inflows. For Pakistan, falling crude oil prices could ease import costs and inflationary pressures, potentially supporting the Pakistani Rupee and reducing local gold's appeal as an inflation hedge.
بحوالہ / Source: www.brecorder.com