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Market move▼ Bearish for Indian equities
Rupee lingers around bottom of Asia FX pile as global headwinds deepen
The brief
- Elevated crude prices and rising global bond yields have pressured the rupee
- The rupee fell during the last quarter and remains near the bottom of Asia’s currency rankings
- Rupee weakness raises import costs for Indian oil companies and airlines
- US 30-year Treasury yield tops 5.61%, highest since 2002
- Sun Pharma plans $1 billion local debt sale for loan takeout, sources say
- India-UAE target $200bn bilateral trade by 2032; commit to local currencies, payments, digital initiatives — Check here
- Rupee-dirham trade gains ground as India and UAE target $200 billion
- India forex reserves surge to a record high in September and to provide cover for 11.2 months of goods imports, says RBI