Indian rupee falls on rising oil prices and Fed jitters
The rupee weakened to 95.32 per dollar on Monday as rising oil prices and Fed rate hike bets weighed. These factors offset recent support measures by the RBI.
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Xurve View
India's rupee opened at 95.32 per dollar on Monday morning as rising energy costs and corporate demand outweighed speculative support. The currency weakened from its previous close of 94.9450 despite recent central bank interventions to attract capital. For investors, the decline signals that geopolitical volatility in the Middle East is currently overriding the India policy response.
