Branch² Intelligence
Rupee slips to one-month low of 95.62 per US dollar as oil pangs resurface
Key takeaway
Rupee hits one-month low of 95.62/USD as oil surges on US-Iran strikes and Strait of Hormuz closure.
- Step 1US-Iran strikes and Strait of Hormuz closure trigger crude oil price surge.
- Step 2Higher oil prices widen India's import bill, weakening the rupee to 95.62/USD.
- Step 3Rupee depreciation and higher fuel costs raise input costs for Indian SMEs across transport, manufacturing, and agriculture.
Source: IN:The Hindu BusinessLine
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