Rupee slips 12 paise as crude prices rise amid Middle East tensions
The Indian Rupee weakened against the US dollar at the start of trading on Monday. Escalating tensions in the Middle East pushed crude oil prices higher, driving up demand for the dollar. Additional pressure came from foreign investors pulling capital out of Indian equity markets. Domestic stock indices, including the Sensex and Nifty, also fell during the session. Despite the currency's decline, India's foreign exchange reserves had recorded a notable rise in the preceding week.
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