18-June-2026
Economy News
 
Rupee hits six-week high as oil slips below $80; RBI buying boosts gains
18-Jun-2026

The Indian Rupee climbed to 6-week highs of 94.28 per dollar, driven by strong central bank purchases and a slip in oil prices. Brent Crude slumped below the $80 per barrel mark. The currency finally closed trade at 94.52 per dollar. Oil prices have tumbled by more than 32% from their March peaks, as Brent crude futures were trading near the $79 per barrel mark, while the US contract for crude, West Texas Intermediate, was quoted around the $76 per barrel level. Lower oil prices are rupee-positive as they help ease the pressure on country’s import bill “Lower oil levels certainly helped, oil companies purchased during the first half of the trade,” said Anil Kumar Bhansali, head of treasury at Finrex Treasury Advisors. He added that heavy dollar buying by RBI was witnessed during the second half of the trade, during which the currency touched its fresh intraday high level.

News Source:- https://www.financialexpress.com/policy/economy/rupee-hits-six-week-high-as-oil-slips-below-80-rbi-buying-boosts-gainsnbsp/4269798/