Rupee opens weaker at 94.58 vs USD as Brent spikes
NewsBytes | May 8, 2026 1:39 PM CST
Oil import demand weighs on rupee
With oil getting pricier, the rupee tends to take a hit, especially since India imports so much of it.
Ongoing demand for dollars from companies buying oil is adding pressure too, even though the Reserve Bank has tried to help.
Analysts say things could improve if oil prices settle down, but for now, market nerves are running high as everyone waits to see how the U.S.-Iran standoff plays out.
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