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Rupee jumps 36 paise in two days as oil slides below 100
Economy
Published on 8 May 2026
Oil drop triggers traders to unwind short rupee bets
The Indian rupee strengthened by 36 paise to the dollar on Thursday, extending a sharp two-day rebound. Traders linked the move to crude oil falling below $100 a barrel, which encouraged them to unwind short-rupee positions. State-run banks were also seen selling dollars, likely for exporters, as the currency approached 94.
- Rupee gains 36 paise versus the US dollar
- Crude oil slipping below $100 helped drive the rebound
- Traders unwound short-rupee positions to profit from oil weakness
- State-run banks sold dollars, likely tied to exporter flows
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times