Indian rupee weakens to 95.94 against US dollar as crude oil prices surge and dollar strengthens. The USD-INR pair hovered near the 96 mark on Friday, declining 30 paise in early trade after hitting fresh lows over three consecutive sessions. Elevated crude oil prices, a strong dollar, and West Asia geopolitical concerns pressured investor sentiment. The dollar index climbed to 99.05, gaining 0.24 percent, supported by robust US retail sales and stable labor market data that reduced expectations of aggressive Federal Reserve rate cuts. Brent crude surged 1.30 percent to USD 107.09 per barrel. However, India's consideration of major tax cuts for foreign investors on Indian bonds provided some support. Domestically, the Sensex rose 239 points while Nifty gained 78 points in early trading, indicating mixed market sentiment amid currency volatility and global economic uncertainties.
