Indian Rupee Weakens Slightly Against US Dollar, Opens at 95.73
Indian Rupee Falls Against US Dollar Amid Ongoing Oil-Related Pressures
The Indian rupee opened 2 paise lower at 95.73 against the US dollar on Thursday, 14 May, weighed down by persistent oil-related pressures that have lingered in recent weeks. The rupee had settled at 95.7050 in the previous session, after hitting a lifetime low of 95.7950.
The Brent crude prices remained relatively stable around $106 per barrel as investors awaited an important meeting between Donald Trump and Xi Jinping, with the ongoing conflict in Iran being the primary concern. Despite Trump suggesting that US efforts to address the 11-week conflict might not hinge on China's involvement, he is expected to ask for Xi's backing during their talks.
| Currency Pair | Previous Session | Current Session | Change |
|---|---|---|---|
| INR/USD | 95.7050 | 95.73 | -2 paise |
Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data
Note: The change is calculated based on the current session's opening rate.
Investor Takeaway
The Indian Rupee may continue to be affected by global economic pressures.
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