The Indian rupee logged its sharpest weekly drop since May, with Friday's uneventful trading session closing out the week, as elevated oil prices and strong merchant dollar demand renewed worries about the currency's trajectory.
The rupee closed at 96.28 per dollar, down about 1% week-on-week, stung by a 13% rise in Brent crude oil prices as fighting between the U.S. and Iran intensified, choking energy supplies through the Strait of Hormuz yet again.
