The Indian Rupee weakens slightly after a three-day rally, pressured by rising oil prices and a stronger US Dollar.
The Indian Rupee (INR) opened marginally lower against the US Dollar (USD) on Wednesday, halting a three-day winning streak. The USD/INR pair climbed to near 95.85 as oil prices rebounded sharply amid renewed geopolitical tensions.
Prior to this, the INR had strengthened for three consecutive sessions, supported by easing global risk sentiment and a softer USD. The rebound in oil prices, however, has raised concerns over India’s import costs, weighing on the currency.
No immediate market reaction was reported beyond the intraday move in the USD/INR pair.