The Indian rupee hit a record low of 93.12 against the US dollar on Friday, driven by escalating Middle East tensions and soaring crude oil prices. Despite this currency weakness, domestic equity markets staged a significant recovery. Analysts anticipate continued pressure on the rupee as foreign investors withdraw funds, potentially impacting India’s growth and inflation. The Indian rupee hit a record low of 93.12 against the US dollar on Friday, driven by escalating Middle East tensions and soaring crude oil prices. Despite this currency weakness, domestic equity markets staged a significant recovery. Analysts anticipate continued pressure on the rupee as foreign investors withdraw funds, potentially impacting India’s growth and inflation.
