Rupee Falls to Lowest Level in Over Two Months Amid Dollar Strength

The Indian rupee fell to its lowest level in over two months against the US dollar on Wednesday, opening at 95.89 and trading as low as 95.91.

This decline was largely due to the strength of the American currency, which is expected to rise further following a potential interest rate hike by the US Federal Reserve later this day.

The rupee has weakened by over 1% in the past five sessions, and experts believe that higher oil prices are also contributing to its decline. Brent crude prices remain elevated at $108.12 per barrel despite a slight dip of 0.58%.