Rupee slips to 95.28 against US dollar as oil, treasury yields remain elevated
The Indian Rupee weakened against the US dollar due to rising oil prices, higher US Treasury yields, and geopolitical tensions. Market analysts suggest the currency may remain under pressure in the near term as global economic factors persist.
Why it matters
Currency fluctuations impact India's import costs and inflation, reflecting the country's sensitivity to global energy markets and US monetary policy.
Rupee began Friday in red, falling 6 paise to 95.28 against the US dollar in early trade as a firmer greenback and higher US Treasury yields put pressure on the currency.The currency began the session at 95.27 at the interbank foreign exchange market before weakening to 95.28. This followed a 14-paise decline in the previous session, when the rupee ended at 95.22 against the dollar.Forex traders said dollar purchases by importers and profit-taking after the rupee's recent gains had outweighed the favourable global backdrop.The dollar index, which tracks the US currency against a basket of six major currencies, was trading 0.02 per cent higher at 99.95.
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