Indian rupee hits 2-month low at 96.3150 against US dollar
Business
The Indian rupee just hit a two-month low, sliding 0.5% to 96.3150 against the US dollar on Thursday.
This drop comes as global bond yields climb and oil prices spike past $100 a barrel, making things tough for India's currency, even with state banks trying to step in.
It's the rupee's biggest single-day fall in over two months.
India warns, IFA Global advises hedging
With borrowing costs up and stock markets dipping, the government is warning about possible risks to inflation, the rupee, and capital flows if global uncertainty continues.
FX advisory firm IFA Global recommends that exporters should hedge cautiously and only to the extent of in-hand orders while importers are advised to hedge on any dips on the dollar-rupee pair.