Indian rupee falls to record low of 95.33 per dollar
Business
The Indian rupee just hit its lowest level ever, dropping to 95.33 against the dollar on Thursday.
This slide comes as global crude oil prices climbed to $126 a barrel, making things tough for India since it imports most of its energy.
Other Asian currencies like the Indonesian rupiah and Thai baht are also feeling the heat.
India faces $20bn foreign outflows
The Reserve Bank of India has tried to support the rupee, but so far it hasn't worked. Outside pressures like US trade tensions and shaky energy supplies are weighing heavily.
Since March, foreign investors have pulled over $20 billion from Indian markets, adding to the pressure.
If high oil prices stick around, experts warn India's economic growth could slow down even more this year.