Rupee Hits Record Low Against US Dollar Amidst Geopolitical Turmoil

  • The Indian rupee is experiencing a historic decline, reaching a record low against the US dollar.
  • This depreciation is attributed to ongoing geopolitical tensions, particularly in the Middle East.
  • Rising tensions create uncertainty in the global market, prompting investors to seek safe-haven currencies like the US dollar.
  • Additionally, the potential for higher oil prices due to geopolitical instability could further weaken the rupee.
  • The Reserve Bank of India (RBI) might be compelled to intervene in the forex market to stabilize the rupee's value.

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