Rupee falls 12 paise to close at 94.93 against U.S. dollar
The Indian Rupee depreciated for the second consecutive day, closing at 94.93 against the U.S. dollar. The decline is attributed to rising global crude oil prices and geopolitical tensions in the Middle East.
Why it matters
Currency devaluation impacts domestic inflation and import costs, particularly for energy-dependent economies like India.
Rupee falls 12 paise to close at 94.93 against U.S. dollar left Representative image. Getty Images/iStockphotos Getty Images/iStockphotos https://th-i.thgim.com/public/incoming/ar6qet/article71615874.ece/alternates/FREE_1200/iStock-2260029287%205.jpg Rasi Bhadramani A dynamic stock image of the Indian Rupee symbol alongside a red downward-pointing arrow, superimposed over a fluctuating stock market graph background, illustrating a financial decline or currency devaluation within a volatile market environment. Forex traders said the rupee is likely to trade with a slight negative bias on global dollar strength and Brent crude prices hovering near $114 per barrel Mumbai The rupee depreciated for the second consecutive day and fell 12 paise to close at 94.93 (provisional) against the U.S. dollar on Friday, pressured by rising crude prices and sluggish domestic equities, with ongoing Saudi-Houthi tensions threatening to keep oil markets volatile..
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