Rupee Flat for Week as Oil Surge Erases Gains
The Indian rupee finished the week virtually unchanged as rising oil prices and risk aversion erased earlier gains. Surging crude costs countered relief from declining US rate hike expectations.
Xurve View
Insights:
Xurve View
The India rupee fell 0.1% to 94.9400 against the United States dollar on Friday afternoon, wiping out earlier weekly gains amid surging energy costs. The currency decline follows a 0.4% drop on Thursday as regional supply concerns hit broader risk sentiment. Despite the weekly flatline, the currency remains under pressure from imported energy bills and shifting macroeconomic conditions.
