Crude oil surge impacts markets as rupee hits record low
after close1 source ↓written by the desknot a recommendation
- now above
- $110/barrel
India's financial markets faced turbulence as the rupee fell to a lifetime low of 96.39/$ amid rising crude oil prices, now above $110/barrel. Bond yields surged to their highest in two months, while technology stocks helped mitigate broader market losses. The higher oil import bill and foreign outflows continue to pressure the rupee, raising concerns over inflation.
Not investment advice. For informational purposes only.