The Indian rupee fell to a record low against the US dollar on
Monday, as escalating tensions in the Middle East and concerns over
energy supply disruptions weighed heavily on markets.
As reported by AzerNEWS, citing Reuters, the
rupee weakened to 93.84 per dollar, surpassing its previous record
low of 93.7350 set last Friday.
The pressure was not limited to India. Most Asian currencies
also declined, losing between 0.1% and 0.8%, reflecting broader
regional vulnerability to rising geopolitical risks.
Market sentiment deteriorated further as hopes for de-escalation
faded, with the standoff between the United States and Iran
entering its fourth week. The prolonged conflict has intensified
uncertainty and heightened fears of a wider economic fallout.
Rising tensions in the Middle East have driven a sharp increase
in global oil prices, adding to inflationary pressures for
energy-importing economies. The International Energy Agency warned
that the current situation could surpass the severity of the twin
oil shocks of the 1970s.
The rupee remains one of the most vulnerable currencies in the
region due to India’s heavy reliance on imported energy. Since the
onset of the conflict, the currency has depreciated by
approximately 3%.
Here we are to serve you with news right now. It does not cost much, but worth your attention.
Choose to support open, independent, quality journalism and subscribe on a monthly basis.
By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
Subscribe
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Thank you!
