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Indian rupee snaps eight-day rally as oil climbs to highest since May
MUMBAI: The Indian rupee snapped an eight-session-long winning streak on Thursday as Brent oil prices climbed to their highest since May on deepening worries about conflict in the Middle East, which hammered global equities as well. The South Asian currency endured a volatile trading session, swinging from its strongest level in over six weeks to close down 0.4% at 94.8175 per dollar. Earlier in the day, chunky foreign inflows for Jio Platforms’ IPO added to tailwinds from the Reserve Bank of India’s defensive measures that had boosted the currency but its gains faded as oil prices climbed in ...
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