Indian rupee hits record 96.20 against US dollar, Sensex falls
The Indian rupee just dropped to an all-time low of 96.20 against the US dollar, mostly because global bond yields and oil prices are up thanks to the ongoing Iran war.
This slide has rattled Indian markets too: Sensex fell over 800 points, and Nifty dipped below 23,400.
The main worries? Rising inflation, higher import costs, and foreign investors pulling money out.
Rupee down 5.5% Asia's worst-performing currency
Since the Iran conflict began on February 28, the rupee has lost 5.5% of its value, making it Asia's worst-performing currency in 2026 so far.
Monday marked its fifth straight record low.
Experts say unless oil prices calm down and global risk sentiment improves, both stocks and the rupee could stay under pressure.
Nifty stuck between 24,000 and 23,400
Nifty is struggling to break past resistance at 24,000 and finding support near 23,400, showing just how jumpy investors are right now with all this uncertainty around global tensions.