Rupee Nears 96 Amid High Oil Prices and Foreign Selling
The Indian rupee weakened against the US dollar, nearing 96, driven by crude oil prices above $100 per barrel and continued foreign investor selling. The Reserve Bank of India is intervening to stabilize the currency amid declining forex reserves. Analysts expect a potential interest rate hike after the upcoming monetary policy meeting, while the dollar index remains strong.
TOI Business·



