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Market move▼ Bearish for Indian equities
Rupee, bonds witness sell-off as crude oil, US Treasury yields rise
The brief
- The rupee settled at 95.96 per dollar
- The 10-year government bond yield rose 6 basis points to 7.11%, its highest since May 21
- A weaker rupee and higher yields pressure Indian importers and rate-sensitive stocks
- 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