Indian Rupee hits 3-month low as Brent crude surges and US bond yields breach 5%

The Indian rupee reached its weakest point in three months on Tuesday. This depreciation occurred as Brent crude oil prices surged past $108 per barrel. US 10-year bond yields also breached the significant 5% mark. The Reserve Bank of India intervened by selling dollars to support the currency. Future rupee movement will depend on oil prices and the US Federal Reserve's policy decision.

The currency closed at 95.95, versus its previous close of 95.55, with the Reserve Bank of India (RBI) selling dollars at weaker levels, traders said.

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