INR stays near historic lows pressured by persistently rising crude oil prices on the back of ongoing geopolitical tensions
Mumbai, May 19 -- The Indian rupee is seen trading comfortably beyond Rs 96 per dollar mark near record low levels even as dollar pulled back slightly and international oil prices eased. INR opened at Rs 96.38 and hit a high of 96.31 so far during the day. Rupee is finding a firmer footing at historic low levels pressured by persistently rising crude oil prices on the back of ongoing geopolitical tensions and a strong dollar. Yesterday, rupee weakened further and closed at a record low of 96.35 against the US dollar. The global market sentiments continue to dampen amid simmering tensions between the US and Iran. Emerging market economies, including India, continue to feel the pressure of rising crude oil prices, as elevated rates increase...
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