Indian rupee at 94.9650 per dollar as RBI likely intervened
Business
The Indian rupee hit a low of 94.9650 against the US dollar on Monday, but the Reserve Bank of India (RBI) likely intervened to limit the rupee's fall.
This drop follows losses in regional peers, as rising oil prices and global tensions put extra pressure on India's economy.
PM Modi fuel plea, Nifty slips
With oil prices climbing due to conflict in West Asia, PM Modi urged everyone (businesses and citizens) to save fuel.
The financial markets reacted too: the Nifty 50 slipped 1%, and India's 10-year government bond yield ticked up to 7.02%.
All this adds up to more economic uncertainty.