Economic TimesLean R·
Oil woes push rupee to over one-week low, RBI caps fall near 96/USD
On Monday, the Indian rupee plummeted to its lowest mark in over a week, driven by soaring oil prices. Investors reacted to mounting geopolitical tensions, leading to an uptick in bond yields and a dip in stock values within the region. State-run banks intervened by selling dollars, likely under the guidance of the Reserve Bank of India, which helped to mitigate further declines in the currency's value.
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