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The Economic Times
The Economic Times
Business

Rupee weakens to two-month low as oil climbs; state-run banks cushion

Oil United States India Middle East

The Indian rupee declined to its weakest level in two months on Monday as oil prices continued to press higher amid sustained hostilities in the Middle East, while dollar sales from state-run banks blunted the pressure.

The rupee fell 0.2% from its closing level on Friday to 96.4575 per ‌dollar, its ⁠lowest since ⁠May 21 and inching near its all-time low of 96.96 hit in the same month.

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