Rupee falls to 3-month low at 86.72/$

MUMBAI: The rupee weakened for the third straight session on Thursday, closing at 86.72 against the dollar – down 24 paise. The rupee touched an intraday low of 86.89, its weakest level since mid-March, as global risk aversion spiked on fears of a possible US involvement in the Israel-Iran conflict.This marks a cumulative loss of 69 paise over the last three sessions. Forex traders attributed the decline to a mix of sustained dollar demand from importers, weak domestic equities, and geopolitical concerns in West Asia.The dollar index, which tracks the greenback against six major currencies, edged higher to 98.92, supported by safe-haven flows. However, gains remained limited as the US Fed chose to keep interest rates unchanged, despite Trump’s demand for a steep 250-basis-point cut.