Indian rupee opens 37 paise lower at ₹95.32 per USD
Business
The Indian rupee took a hit, opening 37 paise lower at 95.32 against the US dollar.
This slide is mostly thanks to rising geopolitical tensions, expensive oil, and shaky stock markets worldwide.
Even though the Reserve Bank of India is working to bring in more foreign investment, the rupee still reacts quickly to changes in crude prices.
Regional conflict lifts Brent over 3%
Brent crude jumped over 3% after fresh conflict between Israel and Lebanon, making imports pricier for India and weighing down the rupee even more.
Meanwhile, investors are rushing to safer assets like the US dollar, especially after solid US jobs data, so experts say global events and oil trends will keep shaping where the rupee heads next.