https://www.taxtmi.com/news?id=72664 Foreign exchange market conditions reflected pressure on the rupee from heightened geopolitical tensions, elevated crude oil prices, and foreign capital outflows. The currency touched an intra-day low before recovering to close slightly higher against the US dollar, with market participants attributing the support to possible RBI intervention and noting that import demand and broader risk aversion continued to weigh on sentiment. Market commentary linked the rupee's weakness to renewed clashes in the Gulf, concerns around the Strait of Hormuz, and the impact of higher Brent crude on oil-importing economies. en-us Tue, 05 May 2026 21:01:05 +0530 Tue, 05 May 2026 21:01:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=72664 Foreign exchange market conditions reflected pressure on the rupee from heightened geopolitical tensions, elevated crude oil prices, and foreign capital outflows. The currency touched an intra-day low before recovering to close slightly higher against the US dollar, with market participants attributing the support to possible RBI intervention and noting that import demand and broader risk aversion continued to weigh on sentiment. Market commentary linked the rupee's weakness to renewed clashes in the Gulf, concerns around the Strait of Hormuz, and the impact of higher Brent crude on oil-importing economies. News - Tue, 05 May 2026 21:01:05 +0530 https://www.taxtmi.com/news?id=72664