Rupee falls 26p to 95.99 against dollar amid crude oil spike

MUMBAI: The rupee weakened by 26 paise to settle at 95.99 against the US dollar on Thursday, dragged by a surge in crude oil prices and a strong greenback amid geopolitical uncertainties. According to forex traders, the domestic currency was also weighed down by heavy selling in domestic equity markets as investors moved toward risk aversion, adding strength to the dollar, even as rising inflation concerns pushed US bond yields higher. At the interbank foreign exchange market, the rupee opened at 95.84 and touched the intraday low of 95.99 against the American currency. The unit finally ended the session at 95.99. AgenciesYou use AI every day. Now get your AI Quotient. Take the AIQ test.