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The Economic Times

Business

Rupee falls 6 paise to 95.42 against US dollar in early trade

United States US Dollar Oil Anil Kumar Bhansali

The rupee fell 6 paise to 95.42 against the US dollar in early trade on Wednesday, weighed down by the sharp rise in Brent crude toward USD 90/bbl, as hopes of a quick US-Iran agreement and reopening of the Strait of Hormuz faded.

Forex traders said the principal driver behind the rise in Brent crude prices is the uncertainty over the Strait of Hormuz.

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