Indian Rupee Hits All-Time Low Against Dollar as Soaring Oil Prices Inflate Import Expenses
Deep News
Yesterday
The Indian rupee has depreciated to a historic low versus the US dollar, with elevated crude oil prices increasing the cost of the nation's imports. The USD/INR pair advanced by 0.3% at one point to 95.1263, surpassing the previous high of 95.1250 recorded in late March. Following earlier interventions by the Reserve Bank of India to curb excessive speculation, the rupee had previously strengthened to a level of 92.66. Meanwhile, the yield on India's 10-year government bond rose by 7 basis points to 7.06%, marking its highest point in over three weeks.
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