The Indian rupee weakened to its lowest level in nearly eight weeks as surging crude oil prices and renewed geopolitical tensions weighed on investor sentiment. India, being one of the world’s largest crude oil importers, remains vulnerable to rising energy prices, which can increase inflation and widen the trade deficit.
Currency dealers expect volatility to continue if crude prices remain elevated. Market participants are also watching for possible intervention by the Reserve Bank of India should the rupee witness excessive fluctuations in the foreign exchange market.
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