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Forex

Rupee Falls Amid Rising Crude Prices and Tensions with Iran

Guavy AI Editorial Team
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The Indian rupee traded in a narrow range on Wednesday and fell 2 paise to 94.97 against the US dollar in early trade.

This move comes as Brent crude prices rose to USD 95.59 per barrel, amid concerns over disruptions to crude supplies through the Strait of Hormuz.

Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP, noted that RBI is keeping a tab on the rupee's fall due to rising Brent crude prices and dollar index hovering at 99.70 on renewed US-Iran tensions.

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