Indian rupee drops to one month low on oil worries
The Indian rupee fell to its weakest level in over a month as surging oil prices and potential US Federal Reserve rate hikes pressured the currency. Central bank interventions helped limit further losses while bond yields rose.
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The India rupee fell 0.4% to 95.92 per dollar on Tuesday afternoon, touching its weakest level in over a month. The drop tracks broader regional currency losses driven by surging energy costs and mounting rate hike expectations.
