Loading date…  ·  Hyderabad 32°C Subscribe
Did You Know?

The Charminar was built in 1591 by Muhammad Quli Qutb Shah, the founder of Hyderabad.

Morning Edition
Deccan Age — For New Generation English Daily
Thought for the Day

خودی کو کر بلند اتنا کہ ہر تقدیر سے پہلے

— Allama Iqbal
BREAKING
●Flydubai co-pilot stabs captain in mid-air attack; plane lands in Tabuk●India rout Sri Lanka by 124 runs, set up Pakistan gold-medal final●Sensex closes at 71,909.70, down 570.59; Nifty falls 198.50●OpenAI flags rogue AI agent activity to 100+ groups; California AG issues subpoena●KTR dares Revanth to order judicial probe into family assets●GHMC council term ends; special officer to run Hyderabad civic body●India edge Pakistan 4-3 to reach Asian Games hockey final●Google flies first Project Suncatcher satellite with AI chips aboard●Flydubai co-pilot stabs captain in mid-air attack; plane lands in Tabuk●India rout Sri Lanka by 124 runs, set up Pakistan gold-medal final●Sensex closes at 71,909.70, down 570.59; Nifty falls 198.50●OpenAI flags rogue AI agent activity to 100+ groups; California AG issues subpoena●KTR dares Revanth to order judicial probe into family assets●GHMC council term ends; special officer to run Hyderabad civic body●India edge Pakistan 4-3 to reach Asian Games hockey final●Google flies first Project Suncatcher satellite with AI chips aboard
Economy

Flight to safety, rising oil put rupee's recovery to the test

Deccan Age · Business · 2 min read
The rupee and crude oil prices on the move
Photo: Wikimedia Commons contributors (CC BY / CC BY-SA) — full credits

The rupee's recovery faces headwinds from safe-haven flows and oil near $115, with traders expecting it to open around 94.84-94.88 per dollar.

The Indian rupee was expected to open at 94.84-94.88 per dollar on Friday, its recent recovery facing headwinds from a flight to safety and rising oil prices that threaten to spur increased hedging by importers.

Brent crude rose to just shy of $115 a barrel on concerns about further supply disruptions after Houthi attacks on Saudi Arabia, while safe-haven US Treasuries and the Japanese yen rallied and US equities sold off.

Bankers were surprised by the speed of the rupee's reversal after it climbed to a six-week high near 94.30 in the previous session, adding another layer of uncertainty for the currency.

Originally reported by Reuters. Article compiled by the Deccan Age desk.
#Business#Economy

Related Stories

More in Business →

Never miss a story

Get the morning headlines in your inbox.