New Delhi, Apr 23 (UNI) The Indian rupee remained under pressure, slipping to 94.08 against the US dollar, as global uncertainty and cautious investor sentiment continued to weigh on emerging market currencies.
The domestic unit has witnessed notable volatility over the past month, moving in a range of around 92.5 to 94.5. Despite intermittent recovery, the rupee has struggled to sustain gains, with the latest level indicating a depreciation trend in the latter half of April.
The volatility is attributed to the ongoing diplomatic engagement between the United States and Iran, where efforts to ease tensions are underway through continued dialogue.
While talks have offered some optimism, the absence of a clear breakthrough has kept global markets on edge.
The rupee’s movement is also being influenced by a firm US dollar, fluctuating crude oil prices, and persistent foreign institutional investor (FII) outflows.
After the first round of US-Iran talks, Brent oil prices in the International market fell below 90 USD/Bbl, but today at 12:31 PM, they rose to 103.39 USD/Bbl.
Overall, the rupee remains vulnerable to external cues, with traders closely watching global developments and macroeconomic signals for further direction.
