Rupee Falls as Brent Crude Surges Past $98 Amid Geopolitical Tensions
The Indian rupee declined against the U.S. dollar on Tuesday, September 8, due to rising Brent crude prices and geopolitical tensions in West Asia.
The rupee fell by 28 paise to close at 94.84 (provisional) against the American currency, following a surge in crude oil prices amid fresh attacks on Aramco's facilities by Yemen's Houthis.
Forex traders pointed out that elevated crude oil prices, nearing $99 per barrel, along with ongoing geopolitical uncertainties, kept investor sentiment cautious.