Indian Markets Decline as Rupee Hits New Record Low
Indian benchmark indices fell over 0.6% on Wednesday as the rupee touched a seventh consecutive record low of 96.8650 per dollar. Rising global bond yields and persistent inflation fears linked to the Iran conflict have triggered significant foreign outflows from emerging markets.
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India shares fell and the rupee hit a record low Wednesday as surging global bond yields sparked emerging market outflows. The Nifty 50 dropped 0.61% to 23,473.2 while the BSE Sensex lost 0.63% to 74,726.44 during morning trading. Investors are retreating from riskier assets as geopolitical tension in Iran drives borrowing costs to multi-decade highs.
