Mumbai

The Indian rupee extended its decline for a fourth straight trading session on Thursday, closing 33 paise weaker at 94.11 against the US dollar after slipping past the 94-mark amid rising crude oil prices and continued global uncertainty.

At the interbank foreign exchange market, the rupee opened at 94.03, touched an intraday low of 94.17 and a high of 93.98 before settling at 94.11. It had closed at 93.78 in the previous session.

Over the last four sessions, the domestic currency has weakened by 120 paise, or nearly 1.3 per cent, from its April 17 close of 92.91.

Forex traders attributed the fall to surging global oil prices, persistent foreign fund outflows, weakness in domestic equities and increased demand for the US dollar. Concerns over stalled peace efforts in West Asia also added pressure on sentiment.

Brent crude rose 1.88 per cent to USD 103.83 per barrel in futures trade, while the dollar index, which tracks the greenback against six major currencies, was up 0.12 per cent at 98.53.

In domestic markets, BSE Sensex dropped 852.49 points to close at 77,664.00, while Nifty 50 fell 205.05 points to 24,173.05.

According to exchange data, Foreign Institutional Investors sold equities worth ₹2,078.36 crore on Wednesday.

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Market analysts said the rupee remains vulnerable due to India’s widening current account deficit caused by expensive crude imports and sustained portfolio outflows. Further escalation in geopolitical tensions could lead to additional weakness in the currency.