Rupee slides past 95 as oil surge offsets RBI support
The Indian rupee slipped past 95 against the US dollar on Wednesday, with climbing oil prices offsetting recent interventions by the Reserve Bank of India. Brent crude is climbing toward the $100-per-barrel mark, driven by escalating Middle East tensions.
As a major oil importer, India is particularly vulnerable to crude price shocks. The rupee's weakness highlights the economy's exposure to global oil market movements and geopolitical risks that constrain the central bank's ability to stabilize the currency.
