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Commodities

Crude Oil Surge and US Yields Push USD/INR to Near 95.95

Guavy AI Editorial Team
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Oil
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The Indian Rupee has weakened against the US Dollar to trade near 95.95 as crude oil prices surge and US yields remain high.

The MCX October Crude Oil futures have advanced 1.7% to around Rs. 9,000, putting pressure on oil-importing currencies like the INR.

The Reserve Bank of India has been intervening in the foreign exchange market to stabilize the Rupee, but its efforts may be hindered by the ongoing crude oil rally and rising US yields.

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