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Rupee Trades Soft as Dollar Strength and Oil Prices Keep Currency Under Pressure
The rupee softened against the dollar due to oil-related demand and global currency strength, though RBI action limited sharper intraday declines.
The Indian rupee traded weaker on Tuesday as a stronger US dollar and firm crude oil prices weighed on currency sentiment. Import-related dollar demand from oil and commodity companies added to pressures, while equity outflows remained modest. RBI operations contributed to intraday stability, preventing deeper declines. Traders monitored global risk cues and upcoming US economic data for direction.