The Indian rupee dropped to its weakest level in two months as global bond yields surged to decadal highs and oil prices jumped, deepening pressure on the South Asian currency that was already hurt by foreign portfolio outflows on Thursday.
The rupee ended down 0.5% at 96.3150 per dollar, its sharpest single-day fall in more than two months after it breached the key psychological barrier of 96 even as dollar sales by state-run banks limited its fall.
