Rupee Slumps Amid Crude Oil Spike and Geopolitical Tensions

The Indian Rupee weakened against the US dollar on Thursday, settling at a low of 95.99 amid rising crude oil prices and geopolitical uncertainties.

The rupee fell by 26 paise from its previous day's close, as investors moved towards risk aversion in domestic equity markets. This shift added strength to the dollar, which was already being bolstered by higher US bond yields due to inflation concerns.

The interbank foreign exchange market saw the rupee open at 95.84 and touch an intraday low of 95.99 against the American currency. The unit ultimately closed the session at its lowest point, reflecting the day's downward trend.