Forex
Rupee Weakens as Brent Crude Surges Past $100 a Barrel
The Indian rupee opened lower against the US dollar on July 24, following a surge in oil prices. Brent crude surpassed $100 a barrel, causing concerns over inflation and economic impact for India.
The domestic currency traded at 96.63 per US dollar, down 6 paise from its previous close of 96.57. This is the closest the rupee has been to its record low of 96.96, set on May 20, 2026.
Fearing further decline, exporters are advised to sell dollars during any intraday weakness, while importers may continue buying on dollar dips, supported by expected RBI intervention.