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The Indian rupee opened lower against the US dollar on October 1, weighed down by elevated oil prices and US Treasury yields, while fading expectations of a Federal Reserve rate cut in October offered little support to the currency.The rupee opened lower by 13 paise at 95.95 per dollar, compared wi…
The dollar hovered near a two-month high on Tuesday as volatile oil prices and a rapid climb in Treasury yields lent support, although gains were limited as traders awaited US data this week for clues on the Federal Reserve
The rupee weakened 0.2% to 95.9825 against the dollar, pressured by surging crude oil prices, US bond yields and a sharp equity sell-off. RBI intervention likely limited losses, while concerns over inflation and Indias high oil import dependence weighed on sentiment.