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Forex

Rupee Plunges as West Asia Tensions Spike Oil Prices

Guavy AI Editorial Team
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USD
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The Indian rupee declined against the US dollar on Tuesday, falling to 94.84 due to escalating tensions in West Asia and rising Brent crude prices nearing $99 per barrel.

Rising geopolitical tensions in the region and surging oil prices weighed heavily on investor sentiment, causing the rupee to decline by 28 paise from its previous close of 94.56.

According to Anuj Choudhary, Research Analyst at Mirae Asset ShareKhan, the rupee is expected to trade with a slight negative bias due to the escalation of tensions in the Middle East and worries over rising crude oil prices.

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