The Indian rupee stayed weak for the seventh consecutive session, declining 7 paise to 95.95 (provisional) against the US dollar on Wednesday, tracking a strong greenback overseas and foreign fund outflows. Rupee’s slide was capped by positive domestic equity markets, even as crude oil prices remained elevated amid escalating US-Iran conflict. Local shares ended the session modestly higher as oil prices pulled back from recent highs and investors braced for a closely watched Federal Reserve rate decision later in the day. The U.S. dollar pulled back from near multi-week highs, yields on U.S. Treasuries held steady and oil prices edged lower, helping underpin investor sentiment. Oil prices fell nearly 1 percent today after industry data showed an unexpected build in U.S. crude inventories and reports emerged that Saudi Arabia is offering more crude oil to Asian refiners through ship-to-ship transfer off Oman’s Sohar port, helping ease concerns about the scale of Middle East supply …
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