Rupee hits record low as oil shock deepens crisis
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The rupee has fallen over 6% in 2026, reaching a record low above 96 per dollar, making it Asia's worst-performing major currency. The US-Iran conflict has driven Brent crude prices above $100, worsening India's trade deficit and increasing foreign investor outflows. Prolonged high oil prices may push the rupee towards ₹100 per dollar, raising inflation risks and complicating RBI's policy decisions.
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