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Rupee drops amid rising global crude oil prices
The Indian rupee just closed at ₹85.87 against the US dollar, down 47 paise in a single day.
This slide makes imports—especially fuel—more expensive and could push up prices for everyday things.
Oil prices jumped after Saudi Arabia raised rates for buyers
Oil prices jumped after Saudi Arabia raised rates for Asian buyers, making India's big oil bill even heavier.
Add in shaky US-India trade talks and threats of new tariffs from President Trump, and the rupee felt the pressure.
Foreign investors pulled out ₹760 crore from Indian stocks
Foreign investors pulled out ₹760 crore from Indian stocks, sending more money out of the country. The US dollar also got stronger worldwide.
On the bright side, India's foreign exchange reserves are still solid at $702.78 billion, helping cushion some of the impact.