Rupee little changed this week as oil-fueled declines wipe out early gains

The Indian rupee experienced a decline for the second day in a row as rising oil prices dampened market confidence. Following a brief uptick at the start of trading, the rupee ended lower against the US dollar. Brent crude prices have surged to a five-month peak, raising worries about energy supply interruptions. This led to a pullback from technology stocks as investors flocked towards safer investments like US Treasuries.