Rupee Slips as Oil Rises and RBI Limits Losses
The Indian rupee weakened past the 94.50 level against the dollar as rising oil prices driven by Middle East tensions weighed on the currency. Ongoing dollar sales by state-run banks acting for the RBI helped contain further losses.
Xurve View
Insights:
Xurve View
India's rupee slipped past the 94.50 level to 94.69 per dollar on Tuesday morning, falling 0.2% as oil prices advanced. Iran's threats of retaliation against the United States drove crude futures higher, threatening regional stability.
