Commodities
Rupee Falls 16 Paise to 95.24 Against USD Amid Global Market Volatility
The Indian rupee depreciated by 16 paise to close at 95.24 against the US dollar on Thursday, despite lower crude oil prices providing some support.
The depreciation was attributed to a slight recovery in the US Dollar Index and foreign fund outflows, according to Anuj Choudhary, Research Analyst at Mirae Asset ShareKhan.
Choudhary also noted that hopes of a deal between the US and Iran contributed to a rise in risk appetite in global markets, which may keep the rupee's value stable. However, any increase in the dollar index and US treasury yields could limit sharp gains.