Rupee Falls Amid Oil Price Rebound, Fund Outflows

Business Standard Markets · stocks

The Indian rupee depreciated by 20 paise to 95.95 against the US dollar in early trade on Monday. This decline occurred as the dollar strengthened and foreign fund outflows continued, exacerbated by the ongoing West Asia conflict. Elevated global crude oil prices, influenced by stalled US-Iran negotiations, are putting further pressure on the rupee. These factors reinforce expectations of further monetary tightening by the Federal Reserve to combat persistent inflation.