Rupee hits record low of 90.67 against US dollar
The Indian rupee slipped slightly to 90.67 per US dollar on Monday, raising concerns about import costs such as oil.
This could put upward pressure on consumer prices, depending on inflation and other factors.
Exporters may benefit from weaker rupee
A weaker rupee isn't all bad news—some market participants say it can benefit exporters.
But pricier imports could put upward pressure on some retail prices, depending on crude oil and inflation trends.
The stock market also felt the pinch, with both Sensex and Nifty dropping as investors reacted to these changes.
Foreign investors sold off over ₹7,000 crore last week
Big foreign investors sold off over ₹7,000 crore in Indian stocks last week, putting pressure on the rupee.
Plus, global factors like a stronger US dollar and slightly higher oil prices didn't help.
India's foreign exchange reserves also took a hit, dropping by $6.7 billion in just one week—a sign that economic jitters are still around.