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Commodities

Rupee Slumps as Brent Crude Hits $90 Per Barrel

Guavy AI Editorial Team
Instruments
Oil
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The Indian rupee continued its downward trend on Wednesday, slipping to 95.42 against the US dollar in early trade.

This decline of 6 paise from its previous close is attributed to the surge in Brent crude prices, which are nearing USD 90 per barrel.

Forex traders point out that uncertainty over the Strait of Hormuz is driving up Brent crude prices. The Strait of Hormuz is a crucial waterway for oil exports, and any disruptions could impact global supplies.

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