The Indian rupee weakened to its lowest level in more than a week on Monday as a sharp rise in global oil prices and renewed geopolitical tensions pressured emerging-market currencies. State-run banks sold dollars, likely on behalf of the Reserve Bank of India, helping slow the slide and keeping the currency from breaching the psychologically important 96-per-dollar mark.
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"Oil Spike Pushes Rupee to Over One-Week Low as RBI Steps In Near 96 per Dollar"
The Indian rupee weakened to its lowest level in more than a week on Monday as a sharp rise in global oil prices and renewed geopolitical tensions pressured emerging-market currencies. State-run banks sold dollars, likely on behalf of the Reserve Bank of India, helping slow the slide and keeping the currency from breaching the psychologically important 96-per-dollar mark.
Oil Spike Pushes Rupee to Over One-Week Low as RBI Steps In Near 96 per Dollar
R
RDU Global Wire
Macro Economy & Fiscal Policy Desk
New Delhi, India Just now (03:19 PM IST)•4 min read
The Indian rupee weakened to its lowest level in more than a week on Monday as a sharp rise in global oil prices and renewed geopolitical tensions pressured emerging-market currencies. State-run banks sold dollars, likely on behalf of the Reserve Bank of India, helping slow the slide and keeping the currency from breaching the psychologically important 96-per-dollar mark.
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