Forex
Rupee Falls for Fifth Consecutive Day, Closes at 95.57 Against USD
The Indian rupee closed at 95.57 against the US dollar on Friday, down by 5 paise from its previous close.
The local currency pared most of its initial losses after suspected RBI intervention and a slight recovery in domestic stock markets helped it rebound.
Forex traders noted that risk aversion in global markets and elevated crude oil prices are weighing on the rupee, which closed lower for the fifth consecutive session on Friday.