Indian Rupee Drops to One-Week Low on Oil Concerns
The Indian rupee fell to a one-week low as rising oil prices and geopolitical tensions raised global inflation concerns. Central bank intervention limited losses while equities suffered their worst drop since July.
Xurve View
Insights:
Xurve View
India's currency fell to a one-week low on Thursday afternoon, dropping 0.2% to 95.9550 per dollar. The slide came as rising oil prices and stalled diplomatic talks sparked global inflation concerns. State-run banks intervened with dollar sales to limit losses, preventing a breach of the 96 threshold.
