Rupee vs USD: INR Opened 21 Paise Higher At 93.17 Against US Dollar - Here's Why

Rupee vs USD: The rupee opened marginally higher against the US dollar on April 15 after declining for thrice consecutively after renewed optimism over possible US-Iran peace talks improved global risk sentiment.

In early trade, the rupee stood at 93.22 against the dollar, up 0.17 percent from its previous close of 93.38. The domestic currency opened at 93.17 and moved between 93.17 to 93.22 range.

This comes amid high expectations linked to the second round of US-Iran talks, which is likely to be hosted in Islamabad or Geneva within the next 48 hours. 

"The US President Trump has teased that a breakthrough is imminent, telling the press that "vibes are powerful" and that the war with Iran is "close to over". Trump doesn't want a small deal with Iran, he wants 'a grand bargain', according to market expert Ajay Bagga. 

The US Vice President JD Vance is expected to lead a potential second round of Iran talks, joined by US envoy Steve Witkoff and former White House adviser Jared Kushner, Bagga noted, citing a CNN report. 

Brent crude has fallen to around $94 per barrel, while the dollar index has eased to near 98 levels, helping support the rupee.

Meanwhile, the Sensex rose 1.48% to 77981.10 level, Nifty 50 surged 1.35% to 24163.80 level.  

Asian currencies traded mixed on Wednesday. The Philippine peso fell 0.24 percent, the Japanese yen lost 0.14 percent, while the offshore Chinese yuan and Indonesian rupiah declined 0.06 percent each.

Among gainers, the Thai baht rose 0.22 percent, while the Malaysian ringgit and Taiwan dollar gained 0.12 percent each.