Indian Rupee Nears All-Time Low Amid Rising Oil Costs
The rupee is set to open near its record low of 95.33 per dollar on Tuesday. Higher oil prices and Middle East tensions continue to weigh on the currency.
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India’s rupee is expected to open between 95.25 and 95.30 on Tuesday morning, nearing its all-time low of 95.33.
The currency settled at 95.0875 on Monday evening as energy costs surged. Persistent dollar demand from oil importers is eroding the nation's trade balance and exhausting central bank intervention buffers.
