Economy
Rupee drops 12 paise to 94.93 amid rising crude oil prices
The Hindu1h
THE BRIEF
1
The Indian rupee depreciated by 12 paise to close at 94.93 against the U.S. dollar on Friday, weighed down by high crude prices and sluggish equities.
2
Brent crude benchmarks hovered near $114 per barrel, driven by geopolitical tensions between Saudi Arabia and Yemeni Houthi forces.
3
Foreign Institutional Investors sold equities worth ₹3,458.70 crore on Thursday, while Jio Platforms' IPO has seen strong subscription demand, reaching seven times coverage.