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Commodities

Rupee Depreciates to 95.84 Amid Rising Oil Prices and Tensions

Guavy AI Editorial Team
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Oil
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The Indian rupee depreciated to 95.84 against the US dollar in early trade on September 15 due to elevated Brent crude oil prices and heightened Middle East tensions.

Elevated Brent crude oil prices, which touched USD 106 per barrel, increased demand for dollars from oil importers, raising concerns over India's external balance and inflation, according to forex traders.

Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex Treasury Advisors LLP, said that the surge in crude oil prices and heightened tensions in the Middle East have increased safe-haven demand for the dollar and pushed US Treasury yields higher.

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