Mumbai, Apr 13 (BNP): The Indian rupee weakened significantly in early trading on Monday, falling by 49 paise to 93.32 against the US dollar, as global tensions and rising oil prices weighed heavily on the currency.
The decline comes amid renewed instability in West Asia, particularly after recent US–Iran talks failed to produce a clear outcome. Concerns over potential disruptions in the Strait of Hormuz—a crucial route for global oil shipments—have pushed crude oil prices higher, adding pressure on oil-importing countries like India.
At the same time, the US dollar remained strong, further dragging down the rupee. Market participants noted that foreign investors have been pulling funds out of Indian equities, intensifying the currency’s fall.
The combination of geopolitical uncertainty, elevated crude prices, and capital outflows has created a cautious mood in the currency markets, with traders closely monitoring global developments for further direction.
