Indian rupee rally pauses on oil risks
The Indian rupee faded from its opening two-month high on Thursday as banks stepped in to buy dollars for importers. Rising crude prices following renewed US strikes on Iran stoked inflation concerns and lifted US Treasury yields.
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India's rupee pared gains on Thursday midday, falling to 94.46 per dollar as importer demand offset foreign inflows. The currency initially touched a two-month high of 94.30 at open following strong monetary measures. The pullback highlights persistent vulnerability to rising energy import costs and broader global macroeconomic pressures.
