Forex
Rupee Weakens Amid Rising Oil Prices and Higher US Yields
The Indian rupee opened weaker at 95.88 against the US dollar on Monday (September 28), down from Friday's close of 95.81, due to stalled US-Iran talks pushing oil prices higher.
Oil prices rose after US President Donald Trump rejected an Iranian proposal to resolve the conflict and reopen the Strait of Hormuz, raising concerns about prolonged disruption to oil supplies.
The Reserve Bank of India's intervention is likely to cushion the currency's decline, while the ₹96-per-dollar level remains closely watched by currency traders.