INR vs USD, April 15: Indian rupee trades at 93.3 against US dollar amid positive global cues over US-Iran talks

According to a PTI report, the sentiment of forex traders turned positive due to a fall in the global benchmark Brent crude oil prices and US President Donald Trump's indication of ‘something’ likely to happen between the two countries in the next two days.

As of 12:19 am (IST), the Indian rupee was trading at 93.261 against US dollar on Wednesday, April 15, compared to the previous market close, according to Investing.com data.

Before trading at the present level, the rupee was trading higher at 93.303 against the dollar in the morning market on Wednesday. The latest fall in the crude oil prices have fuelled the risk appetite for market participants investing into emerging markets, according to the news agency’s report.

Brent crude oil prices were around $95 per bbl on Wednesday, compared to $94.79 per bbl at the previous market close. The renewed hopes of a positive development in the next two days has been cooling down the oil prices over the last two sessions.

Media reports also suggest that Israel and Lebanon have agreed to hold further direct negotiations ‘at a mutually agreed time and venue’.

In case of heightened risk and uncertainties, global investors tend to pull away from the riskier bets in the market, from emerging market currencies to a safer US dollar, but now with the changing dynamics of the conflict, investors are moving back into the assets.

The Indian rupee opened at 93.19 against the US dollar at the opening bell on Wednesday after the markets reopened post Baba Saheb Ambedkar Jayanti scheduled holiday.

Bloomberg’s US Dollar Spot Index (DYX) data showed that the greenback was trading 0.05% higher at 98.177 as of 2:45 am (EDT) on Wednesday, April 15. The dollar index gauges the greenback's strength against a basket of six currencies.