Rupee falls to 95.39 per dollar, ending 3-day streak
Business
The Indian rupee dropped to 95.39 to the US dollar on Tuesday, breaking its three-day streak.
This slide comes after fresh US airstrikes in the Middle East dashed hopes for an Iran peace deal, and month-end flows weighed on the rupee.
RBI intervenes as rupee faces headwinds
The Reserve Bank of India has been selling dollars to help slow the rupee's fall, but it's still one of Asia's worst performers, down nearly 15% over two years.
Exporters are likely to sell dollars during rallies, while importers hedge payments when rates dip.
Despite these moves and some support from local markets, high oil prices and a growing current account deficit mean the rupee is facing ongoing challenges.