Rupee heads for weekly loss on rising oil prices
The Indian rupee headed for a weekly drop on Friday as surging oil prices and higher Treasury yields pressured local markets. Central bank intervention helped limit the currency decline. Stocks and bonds also fell as investors awaited U.S. inflation data.
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India's currency fell 0.3% to 95.70 on Friday, heading for a weekly drop exceeding 1% as rising oil prices pressured domestic markets. Central bank intervention limited steeper losses during the Friday morning session.
