Rupee opens at 95.16 as oil rises, strikes hit Iran
Business
The Indian rupee started the day lower at 95.16 against the US dollar, mainly because oil prices are up and there is fresh tension in the Middle East after new strikes on Iran.
A stronger US dollar and higher US Treasury yields also put extra pressure on the rupee, with Brent crude hitting $76 per barrel.
Asian currencies fall against US dollar
Most Asian currencies followed a similar trend, dropping against the US dollar: Malaysia's ringgit saw the biggest dip, while Indonesia's rupiah actually managed a small gain.
Meanwhile, Taiwan's dollar and China's renminbi barely moved.
Finrex suggested exporters could make use of these rupee swings for better deals, while importers might want to buy dollars if rates dip below 95.