USD/INR climbs to near 95.72 amid higher crude costs and rebounding Treasury yields, pressuring the rupee.
The Indian Rupee (INR) declined against the US Dollar (USD) in early trading Friday, with the USD/INR pair rising to near 95.72. Elevated global oil prices and a sharp recovery in US Treasury yields weighed on the currency, increasing import costs for India, a major oil importer.
The move follows recent volatility in bond markets, where US yields rebounded after a brief pullback. Oil prices have remained firm due to supply concerns and geopolitical tensions, adding pressure on India’s trade balance.
No immediate market reaction data was provided, but the rupee’s weakness reflects broader risk sentiment and external economic factors.