Rupee Falls for Seventh Straight Session Amid Strong Dollar and Oil Price Pressures

The Indian rupee continued its decline for the seventh straight session, ending at 95.95 against the US dollar due to a strong greenback and foreign fund outflows.

Elevated crude oil prices also contributed to the rupee's weakness, with Brent crude trading at USD 107.51 per barrel in futures trade.

Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan, noted that 'rising US Treasury yields and pressurised the rupee' and predicted a range of Rs 95.75 to Rs 96.20 for the USD-INR spot price.

The dollar index was trading 0.04 per cent higher at 99.38 amid market expectations of a hike in interest rates by the US Federal Reserve, which will announce its monetary policy decision later in the day.