Rupee Rises 3 Paise to Close at 95.33 as Hopes for US-Iran Agreement Fade
The Indian rupee closed at 95.33 against the U.S. dollar on August 12, gaining 3 paise from its previous close.
This movement came as hopes for a quick agreement between the U.S. and Iran, which would have reopened the Strait of Hormuz and alleviated global oil market concerns, faded.
Brent crude prices rose towards $90 per barrel amid risk aversion in global markets.