Indian rupee 95.7 per US dollar amid oil, US yields
The Indian rupee dropped to 95.7 per US dollar on Monday, marking its biggest fall in a month and undoing recent gains.
Rising oil prices and stronger US Treasury yields are making things tough for the rupee, especially after RBI efforts to steady it during tensions linked to Iran.
Oil jumps 4% after Israel strikes
Oil prices shot up over 4% after Israel's strikes on Lebanon raised worries about energy shipments through the Strait of Hormuz.
Since India imports most of its oil, this means more dollars are needed, putting extra pressure on the rupee.
Plus, strong US jobs data has investors expecting higher interest rates in the US which pushes up US Treasury yields and makes the US dollar even stronger against currencies like ours.
Analysts see $30B-$50B dollar inflows
Analysts say India's moves to attract foreign dollars could bring in $30 billion to $50 billion, but ongoing geopolitical tensions and unpredictable energy prices will keep influencing where the rupee goes from here.