Rupee falls to 95.94 per US dollar amid crude rise
Business
The Indian rupee slipped to 95.94 per US dollar on Tuesday, falling 32 paise from its previous close.
This drop was triggered by rising crude oil prices (now at $84 a barrel) after US airstrikes in Iran stirred up worries about regional stability.
A stronger US dollar index also added pressure, making the rupee's slide feel even heavier.
RBI may intervene near 96
Experts think the Reserve Bank of India (RBI) could jump in to steady the rupee if it nears 96.
Exporters are likely to sell US dollars at higher rates, while importers might buy during dips.
Meanwhile, Asian currencies were all over the place: South Korea's won gained the most, but Indonesia's rupiah and Malaysia's ringgit saw notable losses.
Overall, markets are adjusting as global events shake things up.