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Rupee weakens to two-month low as oil climbs; state-run banks cushion
The Indian rupee reached its weakest point in two months on Monday. Rising oil prices and Middle East hostilities pressured the currency's value. State-run banks sold dollars, which helped to moderate the rupee's decline. Higher crude prices can create macroeconomic turbulence for India's economy. This situation impacts India's current account and foreign investment flows.
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economictimes.indiatimes.com
Rupee closes at 96.28 vs USD; logs sharpest weekly drop since May as oil price jump stings
The Indian rupee faced its most significant weekly drop since May, driven by rising oil prices and strong demand for the dollar. Increasing tensions between the U.S. and Iran…
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Rupee weakens to two-month low as oil climbs; state-run banks cushion
The Indian rupee reached its weakest point in two months on Monday. Rising oil prices and Middle East hostilities pressured the currency's value. State-run banks sold dollars,…
