Rupee Falls Against US Dollar Amid Rising Crude Oil Prices
The Indian rupee depreciated against the US dollar, falling by 7 paise to 95.68 in early trade. Forex traders attributed this to increased demand for dollars due to soaring Brent crude prices near $91 per barrel. Additionally, the Reserve Bank of India's closure of the concessional FCN (B) forex-swap facility raised concerns about future dollar inflows. Domestic equities also opened lower, with foreign investors continuing to sell shares.11 sourcesSee all sources