Indian rupee falls to 3-month low amid rising crude and bond yields
after close1 source ↓written by the desknot a recommendation
- on Tuesday
- 95.95
- per barrel
- $108
- bond yields exceeded
- 5%
- defend levels near
- 95.59-96
- Brent crude
- $108+
The Indian rupee closed at 95.95 on Tuesday, its weakest level in nearly three months, as Brent crude surged past $108 per barrel and US 10-year bond yields exceeded 5%. This spike increases import-dollar demand, pressuring the currency further. Traders are now watching if the RBI will defend levels near 95.59-96.
• Brent crude at $108+
• US bond yields breach 5%
• Rupee trading range: 95.96-95.75
The continued dollar demand from oil companies is likely to keep the rupee under pressure.
Not investment advice. For informational purposes only.