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S7/10Economic
Rupee hits 3-month low as crude surges, US bond yields breach 5%
The Indian rupee reached its weakest point in three months on Tuesday. This depreciation occurred as Brent crude oil prices surged past $108 per barrel.
US 10-year bond yields also breached the significant 5% mark. The Reserve Bank of India intervened by selling dollars to support the currency.
Future rupee movement will depend on oil prices and the US Federal Reserve's policy decision.
Source: Economic TimesOriginal source
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