Rupee falls to ₹94.50 against US dollar amid oil, equities
Business
The Indian rupee dropped to 94.50 against the US dollar on Thursday morning, losing 12 paise as global pressures weighed in.
Higher crude oil prices and a dip in domestic stock markets pushed the currency down, even though a weaker US dollar and falling US Treasury yields offered some cushion.
Just yesterday, the rupee had actually strengthened to 94.38.
Sensex falls 642.51, Nifty drops 241.35
Rising oil prices and shaky stock markets are making things tough for the rupee:
Sensex fell 642.51 points and Nifty dropped 241.35 points early today.
Analysts say foreign investment from IPOs and a softer dollar could help, but right now, global uncertainty is keeping both markets and the currency on edge.