Rupee slides to 3-month low as oil prices surge and US yields jump
The Indian rupee reached its weakest point in three months on Tuesday, driven by a combination of external pressures. Brent crude oil prices surged past $108 per barrel, while US 10-year bond yields breached the 5% mark, both factors weighing on the currency.
The Reserve Bank of India responded by selling dollars to support the rupee's value. The currency's trajectory going forward will hinge on movements in global crude prices and decisions by the US Federal Reserve.
