Indian rupee opens flat at 95.55 amid oil, U.S.-Iran tensions
The Indian rupee opened flat at 95.55 against the US dollar on Thursday, holding its ground after a recent recovery.
But things are getting tense again: rising crude oil prices and fresh U.S.-Iran military strikes have markets worried about supply disruptions, which could make things tougher for the rupee.
Brent up 8% raises India concerns
Brent crude prices shot up over 8% in just two days, raising concerns for India since it imports most of its oil.
If oil stays expensive, it could push up inflation and widen India's current account deficit, basically making imports costlier for everyone.
The stock market also took a hit this week, with its biggest drop in over three months.
Analysts say the rupee will likely keep moving with global oil prices and overall risk vibes in the coming days.