Rupee Slumps to 95.43 Amid Crude Price Surge and Geopolitical Tensions

The Indian rupee has taken another hit, falling to 95.43 against the US dollar due to rising global crude oil prices and geopolitical uncertainties.

According to data from the interbank foreign exchange market, the rupee opened at 95.38 against the USD and traded in a narrow range of 95.37-95.45 before settling at 95.43, down 13 paise from its previous close.

The rupee's decline was attributed to a surge in crude oil prices, with Brent crude jumping 2.45% to $89.87 per barrel in futures trade.

Anuj Choudhary, Research Analyst at Mirae Asset ShareKhan, noted that the uncertainty over the deal between the US and Iran also weighed on the rupee.