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fxAug 12, 2026, 5:29 AM

Indian Rupee Weakens Further as Oil Prices Surge, CPI Data Awaited

The Indian rupee extended its decline against the US dollar on Wednesday, weighed by surging oil prices, while markets awaited CPI data from India and the US.

USDINR

The Indian rupee continued its downward trend on Wednesday, feeling the weight of a sharp rally in crude oil prices. As a major importer, India often sees its currency weaken when oil becomes more expensive.

Traders are also looking ahead to consumer price index (CPI) releases from both India and the United States, which could sway monetary policy expectations and near-term currency direction.

Source: FXStreet Forex News