Indian rupee opens 94.93 per US$ edging closer to 95
Business
The Indian rupee opened at 94.93 per US dollar on Monday, October 26, inching closer to the important 95 mark.
This small dip comes as high global oil prices and fading support from the Jio Platforms IPO put extra pressure on the currency.
With these changes, there's growing concern that hitting 95 could mean tougher times for India's economy.
Brent crude near $115 pressures rupee
Brent crude is hovering around $115 a barrel, making imports pricier and adding stress to the rupee.
Now that the boost from Jio's IPO is wearing off, all eyes are on whether the Reserve Bank of India will step in to help stabilize things.
Plus, everyone's watching for signals from the US Federal Reserve: any changes there could quickly shift how US dollars flow into or out of India.