Rupee Faces Pressure as Oil Prices Test RBI Defense
The Indian rupee faces renewed downward pressure as surging oil prices driven by Middle East tensions test the central bank's defense capabilities. Higher crude costs threaten currency stability and raise import demands.
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The India rupee is poised to extend losses on Wednesday morning, sliding toward the 95 per dollar threshold as rising energy costs test the central bank's intervention capacity. The currency settled at 94.8175 in the previous session and is expected to open in the 94.84 to 94.86 range. The decline follows a sharp drop on Tuesday, marking the South Asian currency's steepest single-session fall in nearly a month.
