The Indian rupee came under pressure on September 29, falling beyond the ₹96-per-dollar level and reaching around ₹96.1450 per US dollar. Reuters reported that the decline was linked partly to rising crude oil prices and concerns about disruptions to global energy supplies. Brent crude increased more than 1.5% to around $107 per barrel. Higher oil prices are important for India because the country is a major importer of crude oil. A more expensive dollar can make imported goods and commodities costlier in rupee terms. Reuters also reported that foreign investors had withdrawn about $3.7 billion from Indian markets during September, adding pressure to the currency. Movements in the rupee can influence fuel costs, imported goods, overseas education and travel expenses, and companies that have significant dollar-denominated payments or revenues
