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Forex

Rupee Slips Amid Rising Oil Prices and Tightening Monetary Policy

Guavy AI Editorial Team
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USD
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The Indian rupee opened at 95.67 per dollar on August 18, marking a marginal decline from its previous close of 95.61.

Rising oil prices and increasing U.S. bond yields are adding pressure to the currency, with the Reserve Bank of India bringing forward the deadline for its swap facility for deposits raised from non-resident Indians.

Asian currencies are trading mostly higher against the US dollar, with the South Korean won and Indonesian rupiah leading the gains at 0.529% and 0.163%, respectively.

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