Rupee opens 21 paise higher at 93.17 against US dollar as crude oil prices retreat (PTI)AI Quick ReadThe rupee began the day 21 paise higher at 93.17 against the US dollar on Wednesday, April 15, supported by declining oil prices and a boosted risk appetite due to optimistic expectations of US-Iran peace talks resuming. The rupee closed at 93.3750 on Monday, April 13. The Indian stock market was closed on Tuesday.
Brent crude for June delivery fell to $94.40 a barrel during Asian trading, continuing a 4.6% decrease from the previous day, as hopes grew for the resumption of peace discussions between the United States and Iran. The contract had jumped to around $104 on Monday after negotiations failed over the weekend.
Negotiations aimed at ending the conflict may resume in Pakistan within the next couple of days, stated US President Donald Trump on Tuesday, following the collapse of discussions that led to Washington implementing a blockade on Iranian ports.
This renewed effort in diplomacy has generated hope that the conflict can be settled, possibly reinstating the interrupted flow of crude oil and fuel.
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