Rupee hits record low of 91.82 against US dollar
Business
The Indian rupee dropped to 91.82 against the US dollar on Friday, mainly because of rising oil prices and fresh conflict in the Middle East.
This means India's import bills could go up, making things pricier at home.
Foreign investors pull out ₹6,030 crore
A weaker rupee hit the stock market hard: Sensex fell over 1,000 points and Nifty lost more than 300 points.
Foreign investors pulled out ₹6,030 crore, showing they're nervous about global uncertainty and expensive oil.
Brent crude nears $90 a barrel
Ongoing tension between the US Iran, and Israel has pushed up Brent crude by nearly 6% to $90 a barrel after shipping got disrupted.
Analysts expect more rupee swings ahead if oil stays expensive.
The Reserve Bank of India may step in to steady things if needed.