Rupee slips to 94.50 per dollar as crude oil climbs and stocks dip
The Indian rupee weakened by 12 paise, closing at 94.50 against the US dollar. The decline was driven mainly by rising crude oil prices. Some support came from a softer dollar and falling US treasury yields. Volatility in local equity markets and higher oil costs added further pressure on the currency. Foreign institutional investors nonetheless bought Rs 1,022.32 crore worth of equities recently.
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