Losses in INR due to higher oil prices largely offset by positive local equities
Mumbai, July 29 -- The Indian rupee continues to stay pressured against a firm dollar overseas and resurgence in crude oil prices. INR opened marginally higher at Rs 95.70 per dollar but slipped back to a low of 95.80 so far during the day. Rupee however recovered from initial losses and was last seen trading at 95.66. International oil prices soared back today due to renewed conflicts between the United States (US) and Iran. The US military reportedly claimed to have successfully intercepted what it described as a surprise Iranian attack targeting US troops stationed across the Middle East. Meanwhile, investors are now shifting focus to Federal Reserve's monetary policy decision amidst the ongoing turmoil. Higher oil prices typically boo...
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