Rupee Weakens Under Pressure from Dollar and Oil Prices

The Indian rupee has weakened by 11 paise to 95.49 against the US dollar on Monday, August 31, due to a stronger dollar and elevated crude oil prices.

This is in contrast to Friday's close of 95.38, with the currency experiencing pressure from multiple factors.

The possibility of a US Federal Reserve rate hike at its September 15-16 meeting has increased market expectations to nearly 60%, up from around 35% previously.

Fed Chair Kevin Warsh's comments on Friday that the central bank may need to raise interest rates if inflation remains above its 2% target have contributed to this shift in sentiment.