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Oil Spike Sends India Rupee Tumbling to One-Month Low

Bloomberg business news
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India’s rupee weakened to the lowest level in more than a month and bonds fell as a jump in oil prices once again exposed the nation’s vulnerability to spikes in energy costs.

The currency slid as much as 0.8 percent to 69.8775 per dollar at 9:35 a.m. in Mumbai, set for the lowest level since March 11, while the yield on most-traded bonds due in 2028 surged six basis points to 7.62 percent. The S&P BSE Sensex index of equities lost 0.6 percent.