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Oil woes push Indian rupee to over one-week low, RBI caps fall near 96/USD
MUMBAI: The Indian rupee slipped to its weakest in more than a week on Monday as oil prices marched higher, dragging down regional stocks and currencies as investors fretted over the impact of high energy prices and geopolitical uncertainty. Dollar sales from state-run banks, most likely on behalf of the Reserve Bank of India, curbed losses with the rupee settling down 0.2% at 95.9825 per dollar. Brent crude rose nearly 4% to $108.2 per barrel. US President Donald Trump rejected Iran’s peace plan, but told Axios in a phone interview that he expected US negotiators to engage in more talks this ...
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