Forex traders said that with the reported de-escalation of the US-Iran conflict and diplomatic agreements regarding the Strait of Hormuz, the immediate threat to global energy supplies has significantly reduced.
The rupee extended its rally, closing at 94.53 against the US dollar. This appreciation is primarily due to a significant fall in crude oil prices. De-escalation of the US-Iran conflict and diplomatic agreements concerning the Strait of Hormuz have eased global energy supply…
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