The Indian rupee weakened 0.2% to 95.9825 against the US dollar as a jump in crude oil prices, firmer US bond yields and a sharp sell-off in domestic equities combined to weigh on sentiment. Traders said likely intervention by the Reserve Bank of India helped limit losses, but inflation risks and India’s heavy dependence on imported oil kept pressure on the currency.
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"Rupee Slips Toward 96 as Crude, Yields and Equity Rout Pressure Currency"
The Indian rupee weakened 0.2% to 95.9825 against the US dollar as a jump in crude oil prices, firmer US bond yields and a sharp sell-off in domestic equities combined to weigh on sentiment. Traders said likely intervention by the Reserve Bank of India helped limit losses, but inflation risks and India’s heavy dependence on imported oil kept pressure on the currency.
Rupee Slips Toward 96 as Crude, Yields and Equity Rout Pressure Currency
R
RDU Global Wire
Macro Economy & Fiscal Policy Desk
New Delhi, India Just now (08:20 PM IST)•5 min read
The Indian rupee weakened 0.2% to 95.9825 against the US dollar as a jump in crude oil prices, firmer US bond yields and a sharp sell-off in domestic equities combined to weigh on sentiment. Traders said likely intervention by the Reserve Bank of India helped limit losses, but inflation risks and India’s heavy dependence on imported oil kept pressure on the currency.
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