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Market move▼ Bearish for Indian equities
Datanomics: Rupee feels the heat from crude oil, weakens beyond the dollar
The brief
- Rupee fell past 96 per dollar in Tuesday intraday trade
- The currency hit a two-month low as higher crude prices raised energy-import concerns
- A weaker rupee and higher crude costs pressure Indian airlines and fuel-importing companies
- 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