Forex
Rupee Edges Down Against US Dollar Amid Strong American Currency
The Indian rupee closed at 95.45 against the US dollar on Thursday, down by 1 paise from its previous close.
The decline came as a result of a strong American currency in overseas markets and weak domestic markets.
Brent prices fell below $90 per barrel for the first time in several sessions due to ongoing discussions between Iran and Oman regarding a temporary shipping corridor through the Strait of Hormuz.
Anindya Banerjee, Head of Commodity and Currency Research at Kotak Securities, said that the rupee's story this month is really the story of flows.