Rupee falls 25 paise to 95.33 against US dollar as Brent crude crosses $100
The currency opened at 95.15 before weakening further, with dollar demand and concerns over oil-driven external pressures weighing on sentiment.
The rupee fell 25 paise to 95.33 against the US dollar in early trade on Thursday, as Brent crude prices surged past the $100 mark, heightening concerns over India's import bill, according to Hindustan Times. Forex traders attributed the depreciation to elevated crude oil prices and persistent demand for the dollar, which also dampened investor sentiment.
The rupee's breach of the psychologically significant 95 level triggered additional dollar demand and stop-loss activity, though RBI intervention helped contain the decline. Analysts noted that the break above 95 could indicate a potential move towards 95.50 and 96.00 in the near future, depending on market momentum.
Brief written by urgent.news from Hindu BusinessLine's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
