Indian rupee weakens to 95.55 amid rising crude oil prices and Strait of Hormuz tensions
The Indian rupee fell by eleven paise on Friday, closing at 95.55 against the dollar as benchmark crude oil prices rose to $105 per barrel, fueling global uncertainties.
The rupee faced mounting pressure from external factors during the week, with a notable demand for dollars from oil companies and dollar sales from state-run banks.
It appears that the Reserve Bank of India stepped in to mitigate further currency depreciation.
5News aggregated this summary from the outlet’s public feed. The full article, with all the context, is on economictimes.indiatimes.com — the content belongs to The Economic Times.
