Rupee Falls 2 Paise Amid Crude Oil Price Surge
The Indian rupee fell by 2 paise to close at 95.76 against the US dollar on Wednesday due to a sharp increase in global crude oil prices amid heightened tensions in West Asia.
This rise in oil prices kept markets on edge, causing pressure on the local unit.
The domestic equity markets also saw a decline, adding to the pressure on the rupee.
However, RBI intervention and foreign fund inflows provided support to the currency, limiting its fall.