Indian Rupee Falls on Outflows and Oil
The Indian rupee declined for the third straight session to 95.18 per dollar as importers increased dollar bids. Persistent foreign equity outflows and rising oil prices further weighed on the local currency.
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The India rupee fell 0.3% to close at 95.1850 against the dollar on Monday, marking its third consecutive decline. The local currency has dropped about 0.8% over three sessions amid surging import demand. Foreign outflows and elevated energy costs continue to weigh on domestic sentiment.
