The Indian rupee reached a lifelong low in deals on Monday as a sharp rise in global crude oil prices threatened to drive up imported inflation and widen the country’s trade and current account deficits.
The partial convertible rupee traded at 76.92/93 per dollar, after hitting 76.96, its lowest level ever. It was closed at 76.16 on Friday.
The benchmark yield on 10-year bonds was 6.86 percent, up 5 basis points on the day.
Oil prices rose more than 6 percent, reaching their highest level since 2008 on Monday after the United States and European allies considered a ban on oil imports from Russia, as delays in the possible return of Iranian crude to world markets raised fears. for a tight supply.
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