Indian rupee falls as oil prices and US yields climb
The Indian rupee dropped to 95.7075 per dollar on Monday as rising crude prices and strong U.S. jobs data pressured emerging market assets. Despite recent central bank measures to attract inflows, renewed geopolitical tensions in the Middle East and higher Treasury yields have weighed on the currency.
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The India rupee fell 0.8% to 95.7075 per dollar on Monday, erasing nearly all gains from the previous session. It was the sharpest decline for the currency in four weeks. Persistent energy costs and rising U.S. yields threaten to undermine recent central bank efforts to stabilize domestic capital flows.
