Indian rupee strengthened against the U.S. dollar on Tuesday as tensions in West Asia eased after Iran and Isreal halted attacks on each other. The development has cooled off the global crude oil prices further lending support to the local currency. The brent crude oil prices declined to trade below $93 a barrel mark. Besides, investors were optimistic after the Reserve Bank of India introduced a US dollar-rupee forex swap facility for fresh FCNR (B) deposits mobilised by banks for a minimum tenor of three years and a maximum of five years. On the global front, the euro has strengthened against the U.S. dollar on Tuesday as a halt in hostilities between Israel and Iran boosted hopes that peace negotiations could move forward.
Finally, the rupee ended at 95.31 (Provisional), strengthened by 30 paise from its previous close of 95.61 on Monday. The currency touched a high and low of 95.67 and 95.23 respectively.
