Rupee slips 5 paise on safe-haven dollar demand

The Indian rupee closed marginally weaker at 96.26 against the US dollar on Wednesday. Safe haven dollar demand kept the rupee on a weaker footing throughout the trading session. Mild central bank interventions helped contain further losses for the Indian currency. Meanwhile, Brent futures climbed two percent to $86.44 a barrel. This oil price increase occurred as the US reimposed a naval blockade on Iranian ports.

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