The Reserve Bank of India intervened by selling dollars to prevent the rupee from reaching a record low. Surging oil prices and declining stock markets are currently pressuring the Indian currency. Geopolitical tensions in the Middle East are contributing to higher crude oil prices globally. India, heavily reliant on oil imports, faces significant economic challenges from these price increases.
The Reserve Bank of India intervened by selling dollars to prevent the rupee from reaching a record low. Surging oil prices and declining stock markets are currently pressuring the Indian currency. Geopolitical tensions in the Middle East are contributing to higher crude oil prices globally. India, heavily reliant on oil imports, faces significant economic challenges from these price increases.
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