Commodities
Rupee Plunges as Oil Prices Soar to Two-Month High
The Indian rupee has hit a two-month low, breaching the 96/USD mark as oil prices continue to climb.
Rising crude oil prices have added to investor worries about the impact on India's net energy-importing economy.
Brent crude oil prices rose over 1.5% to $107 per barrel due to concerns over Middle East energy supply disruptions driven by the US-Iran conflict.
The rupee declined to 96.1450 per dollar, down nearly 0.2% on the day.
Rising oil prices have also put pressure on Indian equities and bonds, with foreign investors pulling out $3.7 billion so far in September.