The rupee hit a record low against the dollar on Wednesday, driven by elevated oil prices stemming from stalled U.S.-Iran peace talks. This surge in energy costs fuels inflation fears, pushing bond yields higher and impacting equities. The rupee’s decline, coupled with significant overseas investor withdrawals and rising Brent crude prices, exacerbates India’s balance of payments deficit.
Fed’s Jefferson urges patience on rates; Kashkari sees more hikes ahead
Federal Reserve Vice Chair Philip Jefferson stated that he sees no immediate need for further interest rate adjustments. He emphasized that future decisions would depend
October 1, 2026