Indian rupee hits record low of 95.39 on Gulf tensions
The Indian rupee hit a record low of 95.39 per dollar as Gulf strikes raised economic risks. Analysts warn that high oil prices could widen the trade deficit.
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Xurve View
India's rupee fell 0.3% to a record low of 95.39 per dollar on May 5. The decline followed strikes between the United States and Iran in the Gulf. Elevated energy costs threaten to widen India's current account deficit and accelerate $20B in foreign capital outflows.
