Rupee hits eight-week low amid Middle East tensions and oil surge
after close1 source ↓written by the desknot a recommendation
- per dollar
- ₹96.20
- crude surged
- 4%
- per barrel
- $87
The Indian rupee fell to an eight-week low of ₹96.20 per dollar, pressured by rising crude oil prices and safe-haven dollar demand amid ongoing tensions between Washington and Tehran. The currency faced additional pressure from overseas investors selling local assets, despite RBI intervention. Brent crude surged over 4% to $87 per barrel, impacting market sentiment.
• Intraday low of ₹96.23
• Closed at ₹96.20, weakest since 21 May
• Expected trading range: ₹95.75 - ₹96.50
Not investment advice. For informational purposes only.