Indian Rupee edges up against US Dollar, ignores rising oil prices
The post Indian Rupee edges up against US Dollar, ignores rising oil prices appeared on BitcoinEthereumNews.com. The Indian Rupee (INR) ticks higher against the US Dollar (USD) in the opening session on Wednesday. The USD/INR pair edges down to near 95.00 despite renewed geopolitical risks, following United States (US) attacks on Iran, which have lifted oil prices. In the opening session, the MCX Crude Oil contract expiring on July 20 is up 2.62% to near 6,882. The contract also gained almost 2.35% on Tuesday. Currencies from economies, such as India, which rely heavily on oil imports to meet their energy needs, tend to underperform when oil prices surge. US strikes in retaliation for attacks on commercial ships The US Central Command has reported, through a post on X, that it launched powerful attacks on Iranian military infrastructure for attacking commercial ships transiting through the Strait of Hormuz, a critical chokepoint for almost 20% of global energy supply. In response, Tehr