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CIN- L67120MH1995PLC084899

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Rupee weakens amid rising crude prices and geopolitical tensions

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Dion Global

27 May 2026

The Indian rupee depreciated by 8 paise to 95.78 against the US dollar in early Wednesday trade, pressured by a surge in crude oil prices following fresh US military strikes that dimmed hopes of a near-term US-Iran peace agreement.

According to forex market experts, escalating tensions between the US and Iran have increased demand for the dollar as a safe-haven asset. Meanwhile, Brent crude continued to trade firm near the USD 98 mark amid growing geopolitical uncertainty and heightened conflict concerns in West Asia.