Rupee declines 30 paise to 95.84 amid crude price surge
after close1 source ↓written by the desknot a recommendation
- The rupee fell
- 30 paise
- against the US
- ₹95.84
- and escalating tensions
- $106 per barrel
- index also rose
- 0.21%
- 99.60
The rupee fell 30 paise to ₹95.84 against the US dollar in early trade, driven by higher Brent crude prices at $106 per barrel and escalating tensions in the Middle East. This depreciation raises concerns over India's external balance and inflation as demand for dollars from oil importers increases.
The dollar index also rose 0.21% to 99.60, reflecting safe-haven demand amid geopolitical uncertainties. Forex traders are closely monitoring these developments as they may impact market sentiment.
Not investment advice. For informational purposes only.