Forex
Rupee Falls Against Dollar Amid Higher Oil Prices and US Yields
The Indian rupee opened lower against the US dollar on September 29, weighed down by higher US yields and oil prices. The rupee started at 96.05 per dollar, down 7 paise from Monday's close of 95.98.
According to Finrex, the rupee was expected to open at 95.99, but instead it fell to 96.05 due to higher oil prices and US Treasury yields. Oil prices remained high near $99.16 per barrel for the December contract, supporting the dollar.
The Indian rupee is not alone in its decline against the dollar, as several Asian currencies traded lower on Tuesday. The Indonesian rupiah fell 0.42%, while the Thai baht slipped 0.09% and the Taiwan dollar declined 0.11%. However, some currencies like the Philippine peso and Malaysian ringgit gained.