In the early hours of Wednesday, the Indian rupee rose by 26 paise to the level of ₹89.92 in the foreign exchange market against the U.S. dollar, thanks to the weaker greenback and also due to the sharp decrease in the global crude oil prices.

Initially, the currency opened at ₹90.20 in the interbank forex and gradually climbed up thus breaking a four-day losing streak. On the previous day, the rupee had gained 12 paise thus closing at ₹90.18 to the American dollar.

According to Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors LLP, “the rupee opened firmer despite continued tariff threats from U.S. President Donald Trump. It is anticipated that exporters will unload their goods at the peak price of the day while importers will take advantage of the price drops, particularly when the dollar is close to being worth ₹90.”

The dollar index, which shows how strong the U.S. dollar is when compared to a selection of six important currencies, lost 0.05% and reached 98.52. Meanwhile, the price of Brent crude oil for future delivery also declined by 1.05% and closed at $60.06 per barrel thereby, positively impacting the rupee.

There were ups and downs in the Indian stock markets. The Sensex which indicates the performance of thirty major companies on the Bombay stock exchange (BSE), decreased by 169.64 points to 84,909.30 and the Nifty which includes the fifty most liquid stocks listed on the BSE, went down by 42.35 points to 26,128.90 within the first hour of the stock exchange. Foreign institutional investors (FIIs) continued their sell-off of shares and as per the stock market report, their net selling was ₹107.63 crores on Tuesday