Rupee slips, muted price action sinks volatility expectations to five-month low

The Indian rupee weakened a bit on Thursday, primarily influenced by dollar outflows, with derivative maturities and overseas debt repayments adding to its descent. The central bank's active interventions kept volatility in check this week. Meanwhile, Brent crude oil prices dropped amid diminished global demand, and India's trade deficit climbed to $31.98 billion as of July.