Rupee slides past 96/USD to one-month low as oil climbs; RBI likely intervenes

On Tuesday, the Indian rupee fell to its lowest level in over a month, influenced by soaring oil prices and ongoing tensions in the Middle East. The Reserve Bank of India likely stepped in to stabilize the currency as Indian equities also dipped and bond yields rose. Market observers are keeping a close watch on oil fluctuations and central bank measures for any signs of currency recovery.