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Indian rupee risks more losses after post-RBI policy slide, higher oil adds to woes
MUMBAI: The Indian rupee’s drop after a Reserve Bank of India rate hike and stance change on Wednesday that some economists said was hawkish has left the currency vulnerable to further losses, with higher oil prices adding to pressure. The Indian rupee fell 0.4% on Wednesday to 96.7750 per dollar, its weakest level since mid-May, just 18 paise shy of its all-time low of 96.96. The fall was notable since it came after days in which the RBI had appeared comfortable with only a measured weakening. The slide surprised several market participants, particularly considering that external cues ha...
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