Rupee sheds 53 paise on crude oil price spike; bond yields jump

Dealers say it's because of delay in index inclusion

The rupee weakened sharply versus the US dollar on Monday as global crude oil prices surged on reports of a reduction in output by the Organization of the Petroleum Exporting Countries (OPEC) and its allies, dealers said.

The rupee closed at 81.88 per US dollar versus its previous close of 81.35 per dollar. So far in 2022, the domestic currency has depreciated 9.2 per cent against the greenback. In the course of trade, the rupee touched a low of 81.93 per dollar, not far from the record intraday low of 81.95 per dollar touched last week.

Government bonds also took