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The rupee was set for a firmer open after oil prices fell in Asia, as traders bet the US midterm result could cool tensions tied to Iran. Traders expected USD/INR to open around 94.35-94.40 after a 94.64 close on Wednesday.
Brent fell to about $94.20 in Asia, nearly 20% lower for the week.
Banks cited a reduced geopolitical risk premium in oil, which lowers India's crude import costs and supports the rupee. Cheaper energy also reduces transport and fertiliser costs for feed producers.
finimize.comFinimizeNov 5, 2026After 312 past bearish macro events, Crude Oil (Brent) moved a median -1.7% over 5 sessions (38% higher; middle half -5.4% to +2.3%), and -1.7% over 20.
Not enough comparable past events yet for a historical read.
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.
