Industry Odisha Bureau, Jun 9: Indian rupee (INR) reportedly registered a loss of 56 paise from its previous close at the interbank foreign exchange market yesterday and finally ended at 95.74 against the USD.
Media reports quoting forex traders said that “a sharp jump in the global crude oil prices amid the escalating geopolitical tensions and a rise in the US dollar index dented investor sentiment.”
Reportedly, the Indian rupee (INR) had “appreciated 56 paise to close at 95.18 against the US dollar (USD) on June 5 last week following the Reserve of India (RBI)’s measures announced in a bid to support foreign capital inflows as well as buttress forex liquidity.”
However, the current depreciation reportedly occurred owing to the latest renewal in the simmering conflict when Iran launched barrages of missiles toward Israel of late triggering the volatility in the global crude oil prices. Thus, “the global oil benchmark-Brent Crude-started trading higher by 3.94% at $96.76 per barrel in futures trade.”
