Rupee hits three-week low at 95.39 vs USD as firmer dollar, NDF maturities pinch

The Indian rupee touched a three-week low of 95.39 against the US dollar on Monday, pressured by a firmer greenback and corporate demand for foreign currency. Falling oil prices and measures to boost dollar inflows offered some cushion, while Goldman Sachs revised its rupee forecasts expecting a stronger performance ahead. Global stocks rose as easing oil prices signalled potential relief on the inflation front.