Rupee hits record low as Brent crude nears $110
pre-market1 source ↓written by the desknot a recommendation
- prices
- 6% surge in Brent crude
- $109.84 per barrel
- was unsuccessful
- 92.50 level
The Indian rupee fell to a record low of 92.63 against the US dollar, driven by a 6% surge in Brent crude prices, now at $109.84 per barrel. This spike is increasing India's import costs, pressuring oil-importing economies and prompting higher dollar demand from importers. Traders noted the Reserve Bank of India’s informal defense of the 92.50 level was unsuccessful, leading to further selling pressure.
Not investment advice. For informational purposes only.