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S7/10Economic
Rupee plunges 34 paise to 95.08 against dollar as crude prices surpass USD 100 mark
The rupee fell by 34 paise, settling at 95.08 against the US dollar, amid rising crude oil prices that have breached USD 100 per barrel, raising inflation fears.
The depreciation was fueled by sluggish equity markets and foreign institutional investor sell-offs.
Additionally, escalating tensions in West Asia contributed to Brent crude futures surpassing USD 100, indicating a continued bearish trend for the local currency.
Source: Economic TimesOriginal source
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