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The rupee extended its winning streak to a third trading day, trading near 94.75 per dollar. Oil prices fell as hopes grew for US-Iran diplomacy, with TD Securities saying part of the geopolitical risk premium was being priced out of crude.
Easing oil prices reduce pressure on India's import costs and support the rupee, which lowers the local cost of imported feed ingredients. Further oil declines would strengthen this effect, while renewed Middle East attacks would reverse it.
fxstreet.comSagar DuaNov 3, 2026Not enough comparable past events yet for a historical read.
After 565 past bearish macro events, WTI moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
