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Commodities

RBI Intervention Fends Off Rupee Slump as Oil Prices Soar

Guavy AI Editorial Team
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The Indian rupee slipped to 95.95 per dollar on Monday after oil prices rose due to diplomatic tensions between the US and Iran, but central bank intervention prevented a fall past 96.

Brent crude oil price increased by 2.5% to $107 per barrel as US President Donald Trump rejected a peace deal from Iran, keeping global bond yields high.

This has put pressure on emerging market currencies and equities, with India's benchmark stock index, the Nifty 50, falling more than 1% on Monday.

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