Rupee declines to three-week low amid dollar demand
after close1 source ↓written by the desknot a recommendation
- rupee fell
- 95.7525 per dollar
- psychological barrier
- 96/USD
- surged
- $92 per barrel
The Indian rupee fell to 95.7525 per dollar, its weakest level since late July, driven by elevated oil prices and strong dollar demand. The Reserve Bank of India intervened in the market to limit losses, keeping traders cautious as the rupee approaches the 96/USD psychological barrier. Brent crude oil prices surged to nearly $92 per barrel, adding pressure on the currency.
Not investment advice. For informational purposes only.