Rupee Falls as Crude Oil Prices Near $100 Amid US-Iran Tensions

The Indian rupee has fallen to 94.95 against the US dollar in early trade on Wednesday, weighed down by surging crude oil prices and escalating tensions between the US and Iran.

Rising crude oil prices have reached nearly $100 per barrel, which is a key factor contributing to the decline of the rupee.

Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan, said that the Indian rupee opened lower on escalating geopolitical tensions and surge in crude oil prices. He added that 'a weak dollar may support the rupee at lower levels.'

The Sensex tanked 500.25 points to 75,060.61 in early trade while Nifty declined 129.40 points to 23,506.10.