Rupee at 93.83 per dollar amid rising crude, U.S.-Iran talks
The rupee continued its slide for the third day, closing at 93.83 per US dollar, nearing the 94 level it reached on March 23.
This dip comes as rising crude oil prices and ongoing geopolitical tensions, especially after U.S.-Iran talks, put extra pressure on the currency.
Sensex Nifty tumble, nearly ₹1,919cr outflow
Indian stock markets took a hit too, with Sensex and Nifty both falling sharply.
Foreign investors pulled out nearly ₹1,919 crore from equities, making things tougher for the rupee.
Analyst Anuj Choudhary noted that high crude prices are weighing on the rupee, but a softer US dollar could offer some relief ahead.
Brent near $100 amid Hormuz tensions
Brent crude surged close to $100 a barrel amid fresh tensions in the Strait of Hormuz.
With global uncertainties still looming, experts think the rupee may stay under pressure for now.