The Indian rupee slid to a near one-month low as oil prices stayed firm and local importers maintained heavy hedging against further weakness. With the currency approaching the 95 per dollar level, the pressure reflects growing market unease about the rupee’s near-term outlook as energy costs and hedging demand continue to weigh on sentiment.
The Indian rupee ended Monday nearly unchanged, stuck in a tug-of-war between dollar inflows and outflows. Dollar sales gained momentum as traders unwound arbitrage positions, while importers sought protection through hedging. Adding pressure to market sentiment, escalating risks tied to the Iran war kept traders cautious and limited large swings in the currency.
Your news, in seconds
Get the Beige app — every story in 60 words, updated hourly. Free on iOS & Android.
Swipe through stories, personalise your feed, and save articles for later — all on the app.
