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Forex

Rupee Opens Lower as Oil Prices Rise Amid Stalled US-Iran Talks

Guavy AI Editorial Team
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USD
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The Indian rupee opened lower against the US dollar on September 28 due to higher oil prices. The rupee opened 5 paise lower at 95.87 per dollar, down from Friday's close of 95.82.

Despite Brent oil for November rising to $105.95 due to Trump rejecting Iran's peace proposal, the rupee is expected to open at 95.80 and trade between 95.50 and 96.00. The RBI continues to hold the range of 96.00.

The dollar Index also moved higher from 100.95 to 101.15 levels. Exporters are likely to sell the dollar near 95.95, while importers may buy dips for a short-term play as they wait for hedging opportunities.

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