The Indian rupee plunged to a historic low on Friday, breaching the Rs 93 mark against the US dollar for the first time.
In early trade, the currency weakened to Rs 93.15, reflecting mounting pressure from global uncertainties.
Analysts attribute the sharp decline to escalating geopolitical tensions in West Asia, which have disrupted energy infrastructure and driven crude oil prices higher. Rising import costs have further strained India’s external balance, while investors continue to flock to the US dollar as a safe-haven asset.
The rupee’s slide underscores the vulnerability of emerging market currencies amid global instability and energy shocks. Policymakers are closely monitoring the situation as the fall raises concerns over inflation and trade deficits.
