Indian rupee falls 0.81% to 95.71 per US dollar Monday
Business
The Indian rupee had its biggest single-day drop in a month on Monday, ending at 95.71 per US dollar, down 0.81%.
This sharp fall was driven by rising oil prices linked to West Asia tensions, a strong US dollar, and talk of stricter US Federal Reserve policies.
RBI measures boost rupee amid risks
Just last Friday, the rupee jumped after the Reserve Bank of India rolled out measures to attract foreign capital, like new deposit options and overseas borrowing rules.
Amit Pabari from CR Forex Advisors pointed out these moves could help once global risk settles down.
But for now, ongoing geopolitical worries and volatile oil prices mean the rupee might stay weak unless things calm down internationally.