Rupee trades at 96.38 against US dollar, 9th straight loss
Business
The rupee was trading at 96.38 against the US dollar, down 0.04% from its previous close of 96.36, marking its ninth day in a row of losing value.
It's a small drop from yesterday, but it adds up.
The main reasons? Regional currencies are weak and ongoing tensions in the Middle East aren't helping, even though oil prices have cooled off recently.
Oil falls, Asian currencies weaken rupee
Oil prices fell after President Trump called off a planned military strike on Iran to give diplomacy a shot, but worries about disruptions in the Strait of Hormuz linger.
Other Asian currencies like the South Korean won and Indonesian rupiah also lost ground, pulling the rupee down with them.