Rupee extends gains for fourth day as oil tumbles after US Iran ceasefire

Forward premiums fell even as the rupee strengthened

The Indian rupee rose again for a fourth straight session on Wednesday, helped by improved global risk sentiment following a US-Iran ceasefire. At the same time, forward premiums eased as crude oil prices plunged, lowering demand for currency hedging. Analysts say the twin moves reflect shifting expectations for inflation, yields, and energy costs.