Indian Rupee Falls to Record Low of 95.3250 Against Dollar
The Indian rupee fell to 95.3250 per dollar as oil prices reached 126 dollars. Foreign investors sold twenty billion dollars in local assets during two months.
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India's rupee fell 0.5% to a record low 95.3250 on Thursday morning as Brent Crude Oil surged to $126 per barrel. The currency eclipsed its previous all-time low of 95.21 reached in late March. Rising energy costs threaten the growth-inflation balance for the net energy importer, accelerating capital outflows.
