Menu

Post image 1
Post image 2
1 / 2
0

Rupee breaches 95-mark amid fresh war concerns, spike in oil prices

The Indian Express·Akash Mandal·about 1 month ago
#7DZcovKU
Reading 0:00
15s threshold

Market sentiment was also weighed down by cautious commentary by the US Federal Reserve, which late Wednesday left the federal funds rate target range unchanged at 3.5-3.75%. The rupee fell past the 95-per-dollar mark Thursday on its way to hitting a new all-time low of 95.34-per-dollar as fresh concerns about the war in West Asia propelled global crude oil prices to a four-year high. Having closed at 94.85 Wednesday, the rupee ended Thursday only slightly weaker at 94.92. Domestic stock markets also behaved similarly, with Nifty and Sensex falling as much as 1.6% during the day before closing 0.75% lower. However, for April as a whole, the two benchmark indices were up 7-8% — the biggest monthly gain in over two years — after falling more than 11% in March.…

Continue reading — create a free account

Join HashtagPLUS to read full articles, follow hashtags, vote, and join the conversation.

Read More