Rupee slips to 86.16 against US dollar
The rupee slipped again on Friday, ending at 86.16 against the US dollar—its third day in the red.
Higher global oil prices and a rough patch for Indian stock markets are making things tougher for the currency.
Daily expenses might feel the pinch
A weaker rupee means imported stuff, especially fuel, could get pricier—so daily expenses might feel the pinch.
With Sensex dropping over 500 points and Nifty down by 143, it's clear that market jitters aren't helping either.
RBI might have to step in if things get too shaky
Oil got more expensive (Brent crude up 1.17% to $70.33/barrel), and foreign investors were net buyers in Indian stocks.
Plus, ongoing India-US trade talks haven't settled yet; if there's no deal soon, analysts warn the rupee could drop further and push up costs even more.
The RBI might have to step in if things get too shaky.