Rupee opened 20 paise lower at 94 per US dollar as against its previous close of 93.7950.(Photo: AFP)AI Quick ReadThe Indian rupee opened lower, extending its slide on Thursday, pressurized by surging crude oil prices and a stronger US dollar.
The rupee opened 20 paise lower at 94 per US dollar as against its previous close of 93.7950.
The currency has already lost nearly 1% this week and slipped well past its recent highs near 92.50, a level reached largely on the back of support measures by the Reserve Bank late last month and again in April, Reuters reported.
A jump in oil prices, with Brent oil above $100 a barrel, weighed on the rupee. Crude oil prices rallied after Iran vowed not to reopen the Strait of Hormuz so long as a US naval blockade remained in place.
Brent crude oil price rose 1.30% to $103.23 a barrel, while the US West Texas Intermediate (WTI) crude futures rallied 1.45% to $94.31.
Dhanya Nagasundaram works as a Content Producer at LiveMint, specializing in news related to financial markets, stocks, and business. With over eight years of experience in journalism and content creation, she has honed her skills in data-driven reporting and market analysis. Her focus is on monitoring stock trends, initial public offerings (IPOs), corporate news, policy shifts, and larger economic trends that affect investors and market players.
At LiveMint, Dhanya consistently writes and produces articles that make complex financial topics accessible to readers. She keeps a close eye on equity markets, commodities, and macroeconomic indicators, assisting audiences in comprehending how global and domestic events influence investment perspectives. Her stories frequently underscore emerging trends within sectors, the IPO market, company earnings results, and market strategies pertinent to both retail and institutional investors.
Before her tenure at LiveMint, Dhanya accumulated a wealth of professional experience at various companies, including MintGenie, Informist, Cogenics, Chary Publications, KPMG, and the Royal Bank of Scotland. These positions allowed her to establish a solid foundation in financial research, reporting, and content creation.
Throughout her career, she has explored numerous subjects such as trading strategies, commodities, IPOs, wealth generation, corporate profits, and macroeconomic indicators. Her background in both financial journalism and corporate settings has given her the ability to tackle stories with analytical rigor while ensuring clarity for her audience. Through her contributions, Dhanya strives to deliver insightful, trustworthy, and investor-centric financial content.