Indian rupee at 96.63 per dollar after Brent tops $100
The Indian rupee opened at 96.63 per US dollar on Friday, dropping six paise from last session's close.
This dip comes as Brent crude surged above $100 a barrel, which is a big deal for India since we are an oil-importing nation.
With the rupee now hovering near its all-time low of 96.96 (set in May), there's growing concern about what this means for the economy.
Finrex: US yields pressure rupee
Finrex says rising US Treasury yields and a stronger dollar are making things tougher for the rupee.
Finrex suggests exporters might want to sell dollars while the rupee is weak, and importers may continue buying on dollar dips.
Across Asia, currencies had a mixed day: South Korea's won actually gained, while others like Taiwan's dollar and Singapore's dollar slipped against the US currency.