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Rupee at new low of 83.28/$ on crude fears
The Indian rupee closed at a record low of 83.28 against the US dollar, despite the Reserve Bank of India (RBI) selling US currency. The rupee's decline is attributed to concerns about the Israel-Hamas conflict potentially involving neighboring countries, leading to higher oil prices. The currency market is reacting to these tensions, and if the conflict escalates, oil prices could rise further.
The Indian rupee closed at a record low of 83.28 against the US dollar, despite the Reserve Bank of India (RBI) selling US currency. The rupee's decline is attributed to concerns about the Israel-Hamas conflict potentially involving neighboring countries, leading to higher oil prices. The currency market is reacting to these tensions, and if the conflict escalates, oil prices could rise further. 
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