Rupee hits fresh low, bond yields jump as crude oil prices surge
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The Indian rupee fell to a new low of 96.40 per dollar, influenced by rising crude oil prices and US Treasury yields. The benchmark 10-year government bond yield increased to 7.13%. Analysts expect continued pressure on the rupee, with potential rate hikes by the RBI anticipated. India's balance of payments deficit could widen significantly, necessitating additional foreign exchange reserves. Brent crude prices are fluctuating above $110 per barrel.
Source: Business Standard The copyright of this article belongs to the original author/organization.
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