Indian rupee closes at record low 94.81 per US dollar
Business
The Indian rupee just closed at its lowest ever, 94.81 to the US dollar, after dropping 84 paise in a single day.
This sharp fall is mostly thanks to ongoing U.S.-Iran tensions, which are also driving up oil prices (Brent crude hit $109.88 a barrel).
It's making things pricier and adding pressure on the currency.
Anindya Banerjee warns rupee 96-97
Even with state-run banks selling US dollars to help out, the rupee barely budged at key points and kept falling.
Experts like Anindya Banerjee say unless things calm down globally, the rupee could keep slipping, potentially drifting toward 96-97 per US dollar if these tensions stick around.