Rupee bounces back to 93.69 as crude falls

GreyOak summary

The Indian rupee strengthened to 93.69 against the US dollar, recovering from a low of 96.96. This rally was driven by cooling Brent crude prices below $90 and a surge of $6.4 billion in foreign portfolio investor inflows in November. FPIs returned due to attractive valuations and tax reform expectations, lifting the Sensex and Nifty50 by 10% since October.