Indian rupee weakens as oil prices hit two week high

The Indian rupee is expected to continue its downward trend as markets open on Friday, driven by a sustained surge in global oil prices and heightened geopolitical instability. Traders anticipate the currency will open in the 94.20–94.25 range against the U.S. dollar, following a close of 94.1050 on Thursday. This week has been particularly difficult for the currency in India, which has seen a decline of approximately 1.3%, erasing gains from a recent relief rally that had previously strengthened the rupee to the 92.50 level.