Rupee Dips 0.03% as Dollar Demand Remains Strong

The Indian rupee opened weaker against the US dollar on Thursday (August 13), trading at 95.36, down from Wednesday's close of 95.33.

This represents a decline of around 0.03% from the previous close, with persistent dollar demand from hedgers continuing to weigh on the currency.

The Reserve Bank of India (RBI) appears to be limiting the rupee's downside through dollar sales, although elevated oil prices are supporting demand for dollars.

Brent crude briefly moved above $90 a barrel on Wednesday before easing to around $88 in Asian trade on Thursday, amid lower demand forecasts and uncertainty around US-Iran talks.