Archive · Business Recorder
Indian rupee drops to two-month low as global bond rout deepens, oil jumps
MUMBAI: The Indian rupee dropped to its weakest level in two months as global bond yields surged to decadal highs and oil prices jumped, deepening pressure on the South Asian currency that was already hurt by foreign portfolio outflows on Thursday. The Indian rupee ended down 0.5% at 96.3150 per dollar, its sharpest single-day fall in more than two months after it breached the key psychological barrier of 96 even as dollar sales by state-run banks limited its fall. Borrowing costs from the US to France, Britain and Japan hit their highest in decades on Thursday, squeezing already pressured gov...
ZAZTEK archives the headline, summary and publication date so the story stays findable. The full article remains the publisher's. Read it at Business Recorder →