Brief by Shorts91 Newsdesk / 05:46am on 28 Apr 2026,Tuesday Business
The Indian rupee weakened by 24 paise to 94.39 against the US dollar in early trade, pressured by rising crude oil prices and increased month-end dollar demand. Forex traders noted that Brent crude hovering near $109 per barrel is adding strain on India’s external position, as higher oil import costs widen the trade deficit. A broader global shift toward safe-haven assets has further boosted the dollar, limiting the rupee’s recovery. Market experts describe the currency as being at a “crossroads,” lacking strong momentum in either direction. The near-term outlook remains cautious, with global commodity trends and capital flows expected to guide further movement. (PC: Reuters)
