Rupee falls 6% to record low of 96.96
after close1 source ↓written by the desknot a recommendation
- against the US
- 96.96
- since late February
- 6% decline
The Indian rupee fell to 96.96 against the US dollar, marking a 6% decline since late February amid rising crude oil prices and stalled US-Iran peace talks. This depreciation raises concerns over import costs and investor sentiment as foreign investors withdrew over USD 22 billion from Indian markets since the conflict began.
• Higher crude oil prices have surged over 50% during this period.
• Weak capital inflows further pressure India's external finances.
A weaker rupee increases import costs while making exports cheaper.
Not investment advice. For informational purposes only.