Rupee slides, bond yields rise as crude prices hit seven-year high

The rupee was at 74.53 a dollar at 11.40am, down from its previous close of 74.31, as the dollar index crossed 94: its highest level since November 2020

The Indian rupee and bond prices fell on Tuesday as crude prices shot up to a seven-year high, pulling down stocks globally and firming up the dollar index.
 
The rupee closed at 74.44 a dollar after staging a comeback from its intraday low of 74.6325 a dollar. However, it was down from its previous close of 74.31. The dollar index, which measures the greenback’s strength against major global currencies, crossed 94 — its highest level since November 2020.
 
Despite that, a strong performance by the local stock index helped stem the rupee loss. Dealers say domestic investors filled