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Elevated oil prices keep up heat on Indian rupee, traders await cues from Fed
MUMBAI: The Indian rupee slipped on Wednesday as oil prices remained on the boil, keeping up pressure on local assets while the central bank likely intervened to contain the currency’s weakness. The Indian rupee closed at 95.2200 per dollar, compared with the previous session’s close of 95.1150. Brent oil prices climbed over 1% to $115.3 per barrel after an attack on a refinery in Saudi Arabia, the world’s top crude exporter, renewed concerns about supply risks. Qatari mediators presented Iran with a new draft deal on Sunday to end the US-Israeli war on the country, which Tehran is considering...
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