Rupee declines to 2-month low at 83.57 amid rising crude prices
after close1 source ↓written by the desknot a recommendation
- against the US
- 83.57
- rise in global
- 3-5%
- now between
- $93.50 and $95.50
The Indian rupee fell to 83.57 against the US dollar, marking its lowest level in two months. This depreciation is attributed to a 3-5% rise in global crude oil prices, now between $93.50 and $95.50, driven by geopolitical tensions in the Middle East. Higher oil prices increase dollar demand for imports, putting further pressure on the rupee.
Not investment advice. For informational purposes only.