Rupee breaches 96 to the dollar, hits two-month low
The rupee fell past the 96 mark on Tuesday to 96.1450 per dollar, its weakest in two months, as Brent crude climbed over 1.5% to $107 a barrel on US–Iran conflict fears.
Foreign investors have pulled $3.7 billion from Indian markets so far in September, adding pressure on the net energy-importing economy.
Rising oil costs also pushed Indian sovereign bond yields to a two-and-a-half-year peak.
Originally reported by Reuters. Article compiled by the Deccan Age desk.
