INR slumps amid negative trend in the domestic equity markets and oil surge
Mumbai, Oct. 22 -- The Indian rupee slumped 44 paise to close at 94.82 (provisional) against the US dollar on Thursday, weighed down by a negative trend in the domestic equity markets and surging crude oil prices. The rupee began trading on a flat-to-lower trajectory due to sluggish domestic equities and surging crude oil prices. Escalation of attacks by Yemeni Houthis on Saudi Arabia's energy infrastructure deteriorated global market sentiment, adding that softening of the dollar index and a decline in US Treasury yields cushioned the downside. Indian shares fell notably on Thursday, extending losses for a third consecutive session as Brent crude prices topped $112 a barrel on supply concerns. Inflation and rate-hike worries returned to ...
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