Rupee extends winning streak as dollar, oil ease and stocks rally

What happened: The rupee ended 0.1% higher at 95.0550 per dollar, extending a winning streak as the dollar and oil eased and Indian stocks rallied. Key numbers: Rupee up 0.1% at 95.0550 per dollar, up 2% this week. Indian stocks gained about 2%. September merchandise trade deficit $30.21 billion versus expectations of $30.4 billion. Why it matters: Indian stocks outperformed regional peers, which fell between 8% and 2% on worries over AI-related debt funding. ING said further selloff in big AI issuers' debt could weigh on the dollar.

The rupee ended 0.1% higher at 95.0550 per dollar, extending a winning streak as the dollar and oil eased and Indian stocks rallied.

Indian stocks outperformed regional peers, which fell between 8% and 2% on worries over AI-related debt funding. ING said further selloff in big AI issuers' debt could weigh on the dollar.