Rupee weakens to 96.42 per dollar, lowest in two months

The rupee depreciated 13 paise to close at 96.42 per US dollar, marking its weakest level in over two months. The decline was driven by persistent foreign investor outflows and rising dollar demand from oil companies.

The Reserve Bank of India's intervention helped limit further losses. Market participants are closely watching for the central bank's upcoming policy commentary, which could influence currency movements ahead.