Rupee slumps 38 paise to close at 95.92 against U.S. dollar

The Indian rupee depreciated 38 paise to close provisionally at 95.92 against the U.S. dollar on Tuesday, weighed down by the West Asia conflict and soaring Brent crude.

Brent crude oil prices hit $108 per barrel, while the dollar index traded higher by 0.22% at 99.61 amid escalating geopolitical tensions.

Surging dollar demand from oil importers sparked fresh concerns over inflation and India's external trade balance, alongside weak domestic markets.