Rupee declines first time in eight sessions as Brent oil prices rise above $112

On Thursday, the Indian rupee declined for the first time in eight trading sessions. This occurred even amid foreign portfolio investment inflows for the Jio Platforms IPO. Brent oil prices climbed to over $112 per barrel, contributing to the rupee’s fall. Currency traders predict the rupee will trade between 94.50 and 95.25 on Friday. The Reserve Bank of India may intervene near 95 per dollar levels.

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