Rupee Plunges 27 Paise Against Dollar Amid Rising Oil, Dollar Strength

• Indian rupee opened 27 paise lower at 90.94 against the US dollar on Friday, extending losses from Wednesday's close of 90.67.
• The decline was driven by dollar strength, rising oil prices, and patchy holiday flows.
• Sustained dollar demand from a major public sector bank and pressure in offshore forwards amplified the rupee's slide.
• Limited liquidity due to the Mumbai holiday gave these flows an outsized impact on the currency.
• Global factors like a hawkish Federal Reserve and US-Iran geopolitical tensions also contributed to the dollar's strength and rising crude oil prices.