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Forex

Rupee Dips on Crude Oil Prices and West Asia Tensions

Guavy AI Editorial Team
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USD
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The Indian rupee weakened by 11 paise to close at 95.28 against the U.S. dollar on Monday, August 10, due to firm crude oil prices and a lack of breakthrough in talks in West Asia.

FII inflows provided some support, but traders remained cautious ahead of the upcoming U.S. inflation data. The local unit traded in a narrow range of 95.18-95.31 during the day.

Brent crude prices rose above $84 per barrel, putting pressure on the rupee, while FPI inflows turned positive in July and increased in August, providing some support to the currency.

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