Indian rupee weakens to 95.55 amid rising crude oil prices and Strait of Hormuz tensions
· economictimes.indiatimes.com
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.
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