Additionally, following their addition to JPMorgan Chase & Co.’s emerging-market bond index, Indian sovereign bonds eligible for global debt inclusion experienced their first weekly outflow.
This significant outflow has pushed the RBI to allow the rupee to reach record levels, according to Amit Pabari, managing director, CR Forex Advisors. “Adding to the pressure is the strengthening dollar index, which has surged to a two-month high of 103.25.”
Crude oil prices advanced on Wednesday after the possibility of targeting nuclear facilities was back as Israel said it would decide on its own on how to attack Iran.
Brent crude was trading 0.28% higher at $74.46 a barrel as of 9:54 a.m. IST. West Texas Intermediate was up 0.35% at $0.25.
