The Indian rupee fell to around 95.7 per dollar, extending losses for a fourth consecutive session to two-week lows as surging crude oil prices and higher US Treasury yields weighed on the currency. Brent crude climbed nearly 12% this week, approaching $110 a barrel as intensifying Middle East tensions disrupted shipping through the Strait of Hormuz and Red Sea, raising concerns over India’s external balance, growth and inflation. Meanwhile, US Treasury yields rose after stronger-than-expected producer price data lifted expectations of a Federal Reserve rate hike next week, with markets pricing around a 70% chance of an increase and the 10-year yield nearing 5%. The rupee’s decline comes despite recent RBI support, which had helped it strengthen from around 95.70 to a two-month high of 94.30 last week following stronger-than-expected overseas Indian deposit inflows. However, traders said the RBI appears increasingly reluctant to intervene aggressively as external pressures intensify.