Rupee Crashes! 92 Per Dollar for the first time ever amid surging oil prices and Middle East tensions.
Nearly Rs 9.7 lakh crore of investor wealth evaporated from Indian markets in just two trading sessions as the rupee crashed past the 92-per-dollar mark for the first time, rattled by surging oil prices and a rapidly escalating US-Israel conflict with Iran.
Indian equities plunged Wednesday while the rupee sank to a historic low, as global investors rushed for safety amid fears the Middle East war could disrupt oil supplies and ignite inflation.