Indian rupee hits record closing low against US dollar due to Middle East tensions.
The Indian rupee hit a record closing low against the US dollar amid rising Middle East tensions. The rupee ended at 83.4500, its weakest closing level ever, and fell to 83.44 on Monday due to negative equity markets, foreign fund withdrawals, a strong US dollar, and high crude oil prices. The Reserve Bank of India's potential dollar sales helped curb the rupee's losses, but escalating Middle East tensions could put more pressure on the rupee.
April 15, 2024
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