Rupee sinks to 96.31, logs biggest fall in over 2 months

The Indian rupee has markedly dipped against the US dollar, hitting 96.3150. This decline is attributed to escalating US bond yields, which have exerted pressure on emerging market currencies. Additionally, India’s primary equity indices have encountered their most prolonged downturn in 25 years, signaling a turbulent market climate. In tandem, the dollar index has surged to 101.9, exacerbating the rupee's depreciation and reflecting ongoing currency exchange volatility.