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Commodities

Rupee Falls Amid Oil Surge

Guavy AI Editorial Team
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Oil
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The Indian rupee depreciated by 11 paise against the US dollar on Thursday, reaching 95.84 due to rising crude oil prices and geopolitical tensions.

Rising crude oil prices and geopolitical uncertainties led to a sharp surge in oil price, with Brent crude futures trading at USD 102.08 per barrel. The dollar index also strengthened, trading at 100.87.

The selling pressure in the domestic equity market contributed to the rupee's weakness, with Sensex declining 506.43 points or 0.68% to 74,321.82. Foreign Institutional Investors (FIIs) purchased equities worth Rs 1,617.45 crore on a net basis on Wednesday.

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