Rupee Falls 28 Paise Amid Geopolitical Tensions and Rising Crude Prices

The Indian rupee fell 28 paise to close at 94.84 (provisional) against the US dollar on Tuesday, weighed down by geopolitical tensions in West Asia and rising Brent crude prices nearing $99 per barrel.

Forex traders attributed the decline to a surge in crude oil prices amid fresh attacks on Aramco's facilities by Yemen's Houthis.

Rising geopolitical tensions in West Asia and a weak trend in domestic equities further pressured the rupee, according to analysts.

Anuj Choudhary, Research Analyst at Mirae Asset ShareKhan, said, 'We expect the rupee to trade with a slight negative bias on escalation of tensions in the Middle East and worries over rising crude oil prices.'