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Indian rupee declines to one-week low as oil rally fans global rate hike worries
MUMBAI: The Indian rupee fell to a one-week low on Thursday as a jump in oil prices and little progress in U.S.-Iran talks raised concerns that inflation could prompt further global rate hikes. Dollar sales by state-run banks, likely on behalf of the Reserve Bank of India, limited losses and kept the rupee above 96 per dollar. The currency ended at 95.9550 per dollar, down 0.2% for the day. Earlier in the day, the currency had slipped to 95.96, its lowest level since September 17. The Iran conflict has weighed on emerging market currencies as elevated oil prices fan inflation in energy-importi...
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