Indian Rupee Faces Pressure From Rising Oil Prices
The Indian rupee faces continued downward pressure driven by surging global oil prices and elevated US Treasury yields. Reserve Bank of India support has provided only limited relief as crude costs remain high.
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The India rupee fell to the 95.15-95.20 range against the dollar on Thursday morning, extending a 0.7% decline over the past two sessions. The currency drop follows a renewed surge in global energy costs. Central bank intervention has provided only limited relief as crude prices climb.
