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Market move▼ Bearish for Indian equities
Rupee declines to one-week low as oil rally fans global rate hike worries
The brief
- Rupee fell to a one-week low as rising oil prices stoked inflation worries
- Dollar sales by government banks offered support
- A weaker rupee and costlier oil pressure importers, airlines and oil marketing companies
- India's forex reserves fall $14.89 billion to $766 billion
- Rupee and government bonds face pressure as oil rises and Iran diplomacy hopes fade
- FII Flows To Stay Subdued: Bernstein sees flat to modest inflows; rupee and valuations weigh
- RBI says resilient domestic economy cushions India against rising global risks
- Forex reserves drop $14.9 billion to $766 billion, sharpest weekly fall since November 2024