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Rupee drops to 93.35/USD as West Asia tensions, oil surge hit Indian currency

Rupee drops to 93.35/USD as West Asia tensions, oil surge hit Indian currency

The Indian rupee experienced a significant depreciation, settling at 93.35 against the US dollar, as escalating West Asia tensions following failed US-Iran peace talks and a surge in crude oil prices triggered a global flight to the greenback and foreign

ADB flags India’s oil vulnerability amid rising West Asia tensions

ADB flags India’s oil vulnerability amid rising West Asia tensions

West Asia conflict poses a substantial risk to the global economy, including India. Illustration: Dado Ruvic/Reuters Key Points In Asia, reserve adequacy varies widely among major importers. Costly energy imports would weaken the rupee, raise inflation. While China’s roughly 401