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Commodities

Rupee Falls as Crude Prices Rise Amid US-Iran Uncertainty

Guavy AI Editorial Team
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Oil
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The Indian rupee opened lower against the US dollar on August 11, as higher crude oil prices and persistent demand for dollars weighed on the currency.

The rupee opened at 95.39 per US dollar, compared to Monday's close of 95.30, marking a decline of 9 paise or 0.09%.

The latest pressure on the rupee comes as crude oil prices rise amid uncertainty over the US-Iran peace process and the reopening of the Strait of Hormuz.

Brent crude rose around 5% on Monday and continued to trade near $88 a barrel in Asian trading on Tuesday.

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