The Indian Rupee opened lower against the US dollar on Monday. Rising crude oil prices and Middle East tensions fueled dollar demand. Foreign capital outflows from equity markets also weakened the local currency. Indian stock markets traded lower, with Sensex and Nifty declining. India’s foreign exchange reserves saw a notable increase in the previous week. The Indian Rupee opened lower against the US dollar on Monday. Rising crude oil prices and Middle East tensions fueled dollar demand. Foreign capital outflows from equity markets also weakened the local currency. Indian stock markets traded lower, with Sensex and Nifty declining. India’s foreign exchange reserves saw a notable increase in the previous week.
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Rupee tumbles 12 paise against US dollar as Middle East tensions lift crude prices
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