Rupee Falls 25 Paise as Brent Crude Surges Above $100
The Indian rupee declined by 25 paise to 95.33 against the US dollar on Thursday due to rising crude oil prices and increased demand for the US currency.
Brent crude prices remained above $100 a barrel, stoking concerns about India's import bill and inflation.
The Reserve Bank of India (RBI) is likely supporting the currency through sales of dollars and foreign-exchange swaps, according to Reuters.