INR weighed down by escalating Middle East conflict and soaring oil prices

The Indian rupee depreciated 38 paise to close at 95.92 (provisional) against the US dollar on Tuesday, weighed down by escalating Middle East conflict and soaring Brent crude oil prices, which hit USD 108 per barrel. Surging dollar demand from oil importers has sparked fresh concerns over inflation and India's external trade balance. Moreover, weak domestic markets, a strong US...