India, April 8 -- The Indian rupee strengthened by 50 paise to 92.56 against the US dollar in early Wednesday trade, following US President Donald Trump's announcement of a two-week suspension of military action against Iran.
Forex traders noted that the ceasefire news boosted risk sentiment, leading to strong buying across global assets. Asian equities and Dow futures advanced, while gold and silver prices gained. Meanwhile, Brent crude slipped below the $100 mark to around $96 per barrel.
Amid this backdrop, the rupee appreciated to 92.56 levels. Market participants are also factoring in the RBI's directive requiring banks to square off overnight positions of up to $100 million by April 10, with the central bank's monetary policy decisi...