Rupee Slips Below 95 Mark Amid Equity Market Weakness
The Indian rupee declined to 95.15 on Tuesday as importer hedging and weak domestic stocks weighed on the currency. State-run banks provided support through dollar sales while markets await the Reserve Bank of India policy decision on Friday.
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India's rupee fell 0.2% to 95.15 per dollar on Tuesday as equity weakness and importer hedging pressured the currency. The rupee has declined over 4% since the regional conflict began in late February. The currency touched a record low of nearly 97 per dollar in mid-May before rebounding on Reserve Bank of India interventions.
