India’s rupee fell to a record low, while stocks and bonds declined amid concerns that rising crude prices — driven by the escalating conflict in the Middle East — fanned worries over inflation and the country’s widening trade deficit.
India’s rupee fell to a record low, while stocks and bonds declined amid concerns that rising crude prices — driven by the escalating conflict in the Middle East — fanned worries over inflation and the country’s widening trade deficit.
The currency fell as much as 0.8% on Wednesday, the most since end-January, to 92.1850 per dollar, while the 10-year benchmark yield rose five basis points to 6.72%. The Reserve Bank of India intervenedBloomberg Terminal after the rupee breached the closely watched 92-per-dollar level, selling dollars to steady the currency, according to people familiar with the matter.