Indian rupee hits 95 in 5 months, fastest since 2013
Business
The rupee fell from 90 to 95 against the US dollar in only 5 months, the quickest ₹5 slide since 2013.
Back then, a similar drop happened during the taper tantrum, but most other ₹5 dips have taken over a year.
This sharp fall is worrying because it can make imports pricier and push up inflation.
Oil above $100, India reserves $690B+
Global oil prices are on the rise, mostly due to tensions in West Asia, and India's crude basket has stayed above $100 per barrel for months.
Even though India's foreign exchange reserves are now above $690 billion (way up from less than $300 billion back in 2013), the falling rupee could still mean higher costs for everything from fuel to gadgets and put more pressure on the economy.