Rupee sees largest weekly drop since May at 96.28
pre-market1 source ↓written by the desknot a recommendation
- this week
- 1%
- against the US
- ₹96.28
- in Brent crude
- 13% surge
- Intraday low
- ₹96.58
The Indian rupee fell 1% this week, closing at ₹96.28 against the US dollar, marking its steepest decline since May. The drop was driven by a 13% surge in Brent crude oil prices amid rising geopolitical tensions, particularly between the US and Iran.
Key factors include:
• Intraday low of ₹96.58
• Sustained dollar demand from importers
• Foreign portfolio outflows and strong US Treasury yields
The Reserve Bank of India intervened to manage volatility, but pressures remain high.
Not investment advice. For informational purposes only.