Currency Check: Rupee jumps 43 paise to open at 94.68 amid easing geopolitical tensions — TradingView News

The Indian rupee opened higher on June 15, supported by easing geopolitical tensions after the United States and Iran reached a preliminary peace agreement, while movements in crude oil prices are expected to remain a key driver for the domestic currency.

The rupee opened 43 paise stronger at 94.68 against the US dollar on Monday, compared to its previous close of 95.11.

According to Finrex, the rupee is likely to open around the 94.77 level and may trade in the 94.50-95.30 range during the day unless fresh developments alter market sentiment.

“Exporters should utilise upticks in the dollar-rupee pair to hedge receivables, while importers may consider buying on dips for near-term payment obligations falling due in June and July,” the advisory firm said.

Asian currencies strengthened broadly against the US dollar on Monday, reflecting improved risk appetite and a weaker greenback. The Indonesian Rupiah led gains, rising 0.72 percent from the previous close, followed by the South Korean Won, which advanced 0.48 percent.

The Thai Baht gained 0.39 percent, while the Malaysian Ringgit rose 0.31 percent. The Taiwan Dollar added 0.28 percent, with the Philippine Peso and Singapore Dollar climbing 0.25 percent and 0.20 percent, respectively. The Chinese Renminbi edged up 0.18 percent, while the Japanese Yen lagged regional peers with a modest gain of 0.06 percent.

The US dollar slipped to a 10-day low against major currencies after news of a peace framework between the United States and Iran triggered a sharp decline in crude oil prices and boosted demand for risk-sensitive assets.

The euro rose 0.35 percent to $1.1607 in Asian trade, while the British pound strengthened 0.3 percent to $1.3448.

Among commodity-linked currencies, the Australian dollar advanced 0.5 percent to $0.7075, while the New Zealand dollar gained 0.4 percent to $0.5854.

The dollar index, which tracks the greenback against a basket of six major currencies, fell 0.31 percent to 99.492, its weakest level since June 5.