Rupee hits record low as fraying US-Iran ceasefire keeps oil prices on the boil
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The Indian rupee has reached a record low of 95.55 per dollar, declining 0.2% from its previous close. This drop is attributed to concerns over a deteriorating ceasefire in the Middle East, which has led to rising oil prices and heightened worries about the economic impact on India, a net energy-importing country. The rupee's decline surpasses its previous all-time low of 95.4325 set last week.
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