Indian rupee opens at 95.02 per dollar, 3rd weekly loss
Business
The rupee slipped 0.2% to open at 95.02 per US dollar this week, marking its third straight weekly loss.
This dip comes as global oil prices climb and the US Federal Reserve signals a cautious outlook, making the dollar stronger and putting more pressure on the rupee.
Brent and outflows squeeze India
With Brent crude now close to $121 a barrel, India's import bills have shot up by between $12 billion and $13 billion a month lately, making everything from fuel to goods pricier.
On top of that, foreign investors have pulled nearly $20 billion out of Indian stocks this year alone, adding to worries about inflation and a growing trade deficit.