Rupee Falls as Brent Crude Surges Past $90

The Indian rupee has slipped to 95.42 against the US dollar in early trade on Wednesday, weighed down by rising Brent crude prices.

The global oil benchmark has surged to $89.80 per barrel, with markets increasingly skeptical about a quick US-Iran agreement and renewed concerns over physical supply disruptions due to potential attacks on shipping.

Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex Treasury Advisors LLP, noted that the rupee opened at 95.40 before slipping further to 95.42, down 6 paise from its previous close.

Brent crude prices are now near $90 per barrel, with INR/USD at 95.50 becoming a key level to watch, according to Bhansali.