The Indian Rupee weakens for a third consecutive session as rising crude oil prices stoke inflation concerns and dollar demand.
The Indian Rupee (INR) declined against the US Dollar (USD) for the third straight trading day, trading near 96.32. Elevated crude oil prices have fueled concerns over higher import costs and inflation, pressuring the currency.
The INR has faced persistent downward pressure in recent sessions, reflecting broader emerging market trends and dollar strength. Analysts note that India’s reliance on oil imports amplifies vulnerability to global price fluctuations.
No immediate market reaction data was provided, but the trend underscores ongoing risks to the rupee’s stability amid external economic pressures.