Indian rupee hits two-month low amid high oil prices

The Indian rupee fell on Wednesday due to ongoing corporate hedging and high oil prices, with concerns about increasing tensions in the Middle East.

The rupee closed at 86.4775 against the US dollar, marking a decrease of almost 0.3 per cent from its previous session close of 86.24.

The currency fell below 86.50, a key psychological support level, reaching its lowest point in more than two months before recovering slightly.

Attribution: Reuters

Subediting: Y.Yasser