Rupee posts weekly decline; experts see support near 96 against dollar

The Indian rupee declined during the week, pressured by expectations of higher global interest rates. Oil prices stabilized as Middle East tensions persisted, while Asian currencies showed mixed performance and regional stock markets gained modestly.

Analysts believe the Reserve Bank of India's interventions will prevent the rupee from breaching the 96 per dollar level. Foreign portfolio investments have supported currency stability amid the broader currency weakness.