Rupee Falls to OneMonth Low on Oil and Fed Worries
The Indian rupee fell to its weakest level in over a month amid surging oil prices and growing expectations of a United States Federal Reserve rate hike. Government bonds and stocks also declined as persistent inflation concerns weighed on investor sentiment across domestic markets.
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The Indian rupee fell to 95.9550 per dollar on Tuesday afternoon, sliding to its weakest level in over a month amid broad market pressure. The decline marked its biggest one-day drop since mid-July.
