Indian Rupee Hits Three-month Low As Brent Crude Tops $108

The Indian rupee weakened to a three-month low on Tuesday, pressured by a sharp rise in global oil prices. Brent crude futures climbed above $108 per barrel, raising concerns about India's import bill and inflationary pressures. Traders said the currency's decline was driven by sustained dollar demand from importers and foreign fund outflows. The rupee's fall comes amid broader weakness in Asian currencies as investors reassessed the outlook for global interest rates.