Rupee strengthens as crude oil prices fall

The Indian rupee strengthened against the dollar on Tuesday, closing at 95.84 per dollar. This gain followed a sharp rise on Monday, supported by falling Brent crude prices. Dollar sales by the Reserve Bank of India also bolstered the currency’s positive momentum. However, a firm dollar index ahead of the US Fed meeting limited further upside. The rupee is expected to trade between 95 and 96 on Wednesday.