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Elevated energy prices and weak capital flows, further strained by rising bond yields, have left India staring at a steep balance of payments deficit for the ongoing fiscal year.
The rupee fell to 96.8650 per dollar on Wednesday, eclipsing its previous all-time low of 96.6150 hit in the previous session. The currency is down 6% since the Iran war began in late February.
Overseas investors have pulled out over $22 billion from local stocks and bonds over the same period, while Brent crude prices have surged over 50%.
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https://economictimes.indiatimes.com/markets/forex/forex-news/rupee-tumbles-to-record-low-at-96-86-vs-usd-as-us-iran-stalemate-stokes-global-inflation-fears/articleshow/131215639.cms
