INR snaps winning streak as oil prices rebound; Weak domestic markets weigh
Mumbai, Oct. 22 -- The Indian rupee depreciated 12 paise to 94.50 against the US dollar in early trade on Thursday, weighed down by weak domestic markets and elevated crude oil prices. The rupee began trading on a flat-to-lower trajectory due to sluggish domestic equities and surging crude oil prices. However, the downside remained cushioned by a softer US dollar and declining US Treasury yields. At the interbank foreign exchange market, the rupee opened at 94.47, then lost ground to touch 94.50, lower by 12 paise over its previous close. Indian shares were notably lower in early trade as a drone attack on Saudi Aramco's Shaybah oil field as well as another attack on King Fahd International Airport in Dammam, Saudi Arabia, heightened conc...
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