The rupee weakened to 86.72 against the US dollar due to rising crude oil prices after US attacks on Iranian nuclear facilities. A stronger dollar and weak equity markets added pressure, though FII inflows and increased forex reserves limited losses. Brent crude rose to $77.27 a barrel, impacting India’s current account despite managed oil imports from Russia and the US.
Originally published by The Economic Times https://economictimes.indiatimes.com/markets