Rupee Falls to 96.31 as Oil, Yields, FII Selling Weigh

The Indian rupee became weaker against the US dollar and ended at 96.31.

This happened because oil became expensive, and India buys a lot of oil from other countries.

Conflict in the Middle East has disrupted some oil supplies.

The US dollar also became stronger, making the rupee less attractive to investors.

Foreign investors have been selling Indian stocks and bonds, which adds to demand for dollars.

Higher US government bond yields also encouraged investors to move money away from emerging markets.

The Reserve Bank of India sold dollars to slow the rupee’s decline.

Experts expect the rupee to remain unstable and watch what the central bank does at its October meeting.