INR vs USD, Oct. 8 -- The Indian rupee has come under sharp pressure, falling below the Rs.97-per-Dollar level as a stronger US Dollar Index, elevated US Treasury yields and Brent crude prices staying above $100 a barrel weigh on the currency.

Persistent foreign institutional investor outflows from Indian equities have added further pressure on the domestic currency and have also contributed to weakness in the broader equity markets.

According to analysts, a weaker rupee is a clear macroeconomic headwind for India because the country remains heavily dependent on imported crude oil and several other commodities.

"Rupee depreciation raises the landed cost of imports, increases the risk of imported inflation and can put additional pressur...