Rupee near 96 as oil stays above $100, FPIs keep selling

Rupee near 96 as oil stays above $100, FPIs keep selling — The Indian rupee hovers near 96 against the US dollar amid sustained foreign portfolio investor (FPI) outflows and crude oil prices holding above $100 per barrel. Persistent capital outflows and high energy costs weigh on the currency and market sentiment. Rising import bills could pressure current account deficit and corporate margins.

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