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Commodity News Details
INR retreats in opening trades; awaits clarity on US-Iran peace deal
07-May-2026 09:43

The Indian rupee came under renewed pressure in opening trades on Thursday but continues to hold under Rs 95 per dollar mark tracing sharp pull back in international oil prices late yesterday and dollar weakness overseas. INR opened at Rs 94.77 per dollar and hit a high of 94.71 so far during the day. Yesterday, the counter ended at 94.49. WTI crude futures stabilized above $95 per barrel after tumbling as much as 13.3% to $88.66 in the previous session, amid increasing prospects for a Middle East peace deal. Oil prices tumbled yesterday, easing concerns over inflationary pressures and reducing expectations that central banks would need to maintain restrictive policies for longer.

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