Indian shares fall, rupee slumps to record low as oil hits 4-year high - Reuters
Indian shares fall, rupee slumps to record low as oil hits 4-year high Reuters
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"The main effect on the rupee has been from the rising oil prices, which again touched $120 per barrel and looked headed for further upside, as the US continues with its blockade of Iranian ports while Iran does not allow any ship/tanker to pass through the Strait of Hormuz."
— Anil Kumar Bhansali , Executive
"Over the past three months, oil alone has added $12–13 billion every month to the import bill. That’s not just a number; that’s pressure — pressure on the trade deficit, pressure on inflation, and ultimately, pressure on the rupee."
— Amit Pabari , Executive
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<a href="https://news.google.com/rss/articles/CBMipgFBVV95cUxOVS1JSkNLbHhnUkgxVGMzcC1qcFl5SmZpQmpHQWhLUFpVT1ZGRVpmYzZtOWZlNTNoMDVfRUpJQjJiVlRqZ3F3RmUzV2VGZWVVVV9aclhMbjBwekJpM0hxTFdkLVU5bUFYckVVMEU5bWc0UGdadGVHTHhCY3lIRmthNVRjellsaEtuY3QyMTJjaVZaZllGenBEc3Y3VVNLYlp1d1FpSF9B?oc=5" target="_blank">Indian shares fall, rupee slumps to record low as oil hits 4-year high</a> <font color="#6f6f6f">Reuters</font>
The Indian rupee fell to a record closing low of 94.85 per dollar, influenced by rising crude oil prices and foreign outflows.
Analysts anticipate further depreciation of the rupee, potentially reaching 96-97 levels, due to rising oil prices and a hawkish U.S. Federal Reserve stance.
The Indian rupee depreciated to near record lows, impacted by elevated oil prices and continued foreign capital outflows.
The Indian rupee closed at a record low, pressured by rising crude oil prices and concerns over the current-account deficit.
The Indian rupee breached the 95 mark against the US dollar, hitting a new record low, influenced by rising oil prices and foreign portfolio investor outflows.
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