Rupee hits two-month low, breaches 96/USD mark as oil worries deepen

The Indian rupee fell previous the 96 per greenback mark on Tuesday to the touch a two-month low as oil prices continued to climb, deepening investor worries in regards to the affect on the web energy-importing macro economy.

The rupee declined to 96.1450 per greenback, down almost 0.2% on the day.

Brent crude oil costs rose over 1.5% to $107 per barrel as issues over Middle East power provide disruptions pushed by the US-Iran unrest outweighed indicators of recovering crude exports from the area.

Rising oil costs have additionally pressured Indian equities and bonds, with foreign investors pulling out $3.7 billion to date in September, deepening stress on the rupee.