Rupee Tumbles to 95.43 Against US Dollar Amid Oil Price Surge

The Indian rupee fell to 95.43 against the US dollar on Tuesday, driven by rising global crude oil prices and geopolitical uncertainties.

Foreign inflows provided some support to the local currency, but the impact was limited due to the surge in oil prices.

Anuj Choudhary, Research Analyst at Mirae Asset ShareKhan, said that the rupee declined on a surge in crude oil prices and rising US Treasury yields. He also mentioned uncertainty over the deal between the US and Iran as weighing on the rupee.

Fitch Ratings affirmed India's sovereign rating at 'BBB-' with a stable outlook, citing strong domestic economy despite headwinds from the energy shock arising from the West Asia crisis.