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Indian rupee drops with stocks, bonds as oil, inflation and Fed worries mount
MUMBAI: The Indian rupee fell to its weakest level in more than a month on Tuesday but held above 96 per dollar as likely central bank intervention limited losses driven by surging oil prices and bets on a U.S. rate hike this week. The Indian rupee settled at 95.9550 per dollar, down xx% on the day, its biggest one-day fall since mid-July. Brent crude rose more than 2% to $108.20 a barrel, raising concerns about a wider Indian trade deficit and higher inflation. Data on Tuesday showed that India’s goods trade deficit was narrower than anticipated in August, largely on account of a drop in gold...
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