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The Indian rupee extended its winning streak to a fifth session, opening at 94.35 against the dollar. Brent fell sharply in the previous session to below $100 and traded near $93.50, while the dollar index softened.
Indian equities also rose, with the Nifty 50 up 1.66 per cent.
Cheaper crude lowers India's import bill and dollar demand from oil companies, easing pressure on the rupee and the current account. The move also reflects expectations that US-Iran tensions will ease after the midterms.
thehindubusinessline.comBL Mumbai BureauNov 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.
