Rupee Falls 10 Paise to 94.66 Amid Crude Price Surge

The Indian rupee depreciated by 10 paise against the US dollar in early trade on Tuesday, reaching 94.66 due to rising Brent crude prices near USD 97 per barrel and Middle Eastern geopolitical tensions.

Despite ongoing RBI dollar sales and strong foreign-currency inflows under special schemes, the rupee remained range-bound despite heavy external pressures.

Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex Treasury Advisors LLP, noted that the RBI's intervention has been crucial in preventing higher oil prices from translating into a weaker rupee.