Rupee declines to ₹95.84 as crude prices rise
The Indian rupee fell to ₹95.84 per US dollar due to rising crude oil prices above $100 per barrel, raising concerns over India's import bill. The Union Cabinet's wage ceiling hike for EPF coverage is expected to impact 51 lakh employees.
after close1 source ↓written by the desknot a recommendation
- impacting
- 51 lakh employees
The Indian rupee fell to ₹95.84 per US dollar as crude oil prices surged above $100 per barrel, raising concerns over India's import bill and dollar demand. This decline reflects heightened uncertainty in global markets amid escalating tensions in West Asia.
• The Union Cabinet approved a wage ceiling hike for EPF coverage from ₹15,000 to ₹25,000, impacting around 51 lakh employees.
• Gold and silver prices also increased on MCX ahead of the US Fed decision.
Not investment advice. For informational purposes only.