Rupee Slips as Dollar Hits Three-Month High
The Indian rupee weakened alongside Asian peers as the dollar index reached a three-month high driven by rising US Treasury yields. State-run banks likely intervened on behalf of the central bank to limit further losses.
India's rupee fell 0.16% to 95.9850 per dollar on Thursday morning, holding above 96 as state-run banks intervened. The currency dropped alongside regional peers as the dollar index touched a three-month high.
