Indian rupee weakens on oil prices and outflows
The Indian rupee is projected to open near 95.15 against the dollar as Brent crude prices rise to $93.4 per barrel following stalled peace talks. Heavy foreign portfolio outflows and routine corporate demand are adding pressure while the central bank maintains market interventions to anchor the currency.
The India rupee is expected to open lower on Monday as rising oil prices and heavy foreign portfolio outflows strain the currency. The rupee is projected to open near 95.10-95.15 per dollar, down from its Friday close of 95. Global energy costs and equity divestments are creating a difficult environment for the currency's recovery.
### Oil Volatility and Regional Pressure Brent crude rose more than 2.5% to $93.4 per barrel following increased military activity by Israel in Lebanon. This escalation has dimmed hopes for an extended ceasefire agreement between the United States and Iran. Higher energy prices triggered a broad decline in Asian markets, with the currency of South Korea sliding 0.9%.
