Rupee Tumbles Amid Crude Oil Price Rise, Geopolitical Tensions

The Indian rupee fell to 95.56 per US dollar in early trade on Monday, pressured by rising crude oil prices and geopolitical tensions.

Forex traders said market participants have raised the probability of a September Fed rate hike, pushing US Treasury yields higher and triggering a broad dollar rally that has dented investor sentiments further.

Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex Treasury Advisors LLP, noted that the dollar index was trading at 99.62 levels, while most other assets fell from their Friday levels.