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Forex

Rupee Slumps Amid Rising Tensions with Iran

Guavy AI Editorial Team
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USD
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The Indian rupee depreciated by 28 paise to close at 96.03 against the US dollar on Monday, amid risk-off sentiment in global markets.

Forex traders pointed out that continued geopolitical uncertainty could keep pressure on the rupee.

Brent crude oil prices surged to USD 108.04 per barrel, while the dollar index rose 0.16% to 101.12.

Anuj Choudhary, a Research Analyst at Mirae Asset Sharekhan, said that falling risk assets and rising crude oil prices may continue to put pressure on the rupee.

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