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The Indian rupee strengthened to around 94.5 per dollar, a two-week high, as Brent crude fell below $100. Hopes that the US midterm results could push for a negotiated end to the Iran conflict eased concerns over India's import bill.
The Reserve Bank of India has also used a special foreign exchange window for state-owned oil refiners and an FCNR(B) deposit scheme to contain dollar demand and mobilize foreign currency.
Lower oil prices and RBI measures that limit dollar demand support the rupee, which lowers India's import costs. Persistent foreign portfolio outflows and declining reserves limit how far the currency can gain.
tradingview.comNov 5, 2026Not 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.
