The Indian Rupee weakens to 95.93 against the US Dollar as surging US 10-Year Treasury yields drive broad-based strength in the greenback.
The Indian Rupee faces renewed selling pressure, sliding against the US Dollar as US Treasury yields extend their rally toward 5.3%. This surge in benchmark yields continues to bolster the greenback, pushing the USD/INR pair to trade near the 95.93 level.
The Rupee is weakening primarily due to the rally in US Treasury yields, which increases the attractiveness of the US Dollar and puts pressure on emerging market currencies.